Keel Point LLC grew its holdings in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,382 shares of the railroad operator’s stock after purchasing an additional 138 shares during the period. Keel Point LLC’s holdings in Norfolk Southern were worth $1,447,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the stock. American National Bank grew its holdings in shares of Norfolk Southern by 143.5% in the 2nd quarter. American National Bank now owns 112 shares of the railroad operator’s stock worth $25,000 after acquiring an additional 66 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new position in Norfolk Southern in the 1st quarter worth about $29,000. Worth Asset Management LLC acquired a new stake in Norfolk Southern during the 1st quarter worth about $30,000. OLD Mission Capital LLC acquired a new position in shares of Norfolk Southern in the fourth quarter worth about $36,000. Finally, Freedom Wealth Alliance LLC purchased a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 72.37% of the company’s stock.
Analyst Upgrades and Downgrades
NSC has been the topic of several research analyst reports. Citigroup raised Norfolk Southern from a “neutral” rating to a “buy” rating and lifted their target price for the company from $226.00 to $257.00 in a research note on Monday, May 22nd. Bank of America raised their price objective on shares of Norfolk Southern from $226.00 to $253.00 in a research report on Tuesday, July 11th. TD Cowen increased their price target on shares of Norfolk Southern from $243.00 to $253.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Royal Bank of Canada increased their price objective on Norfolk Southern from $210.00 to $227.00 in a report on Friday, July 28th. Finally, BMO Capital Markets upped their target price on Norfolk Southern from $240.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $245.40.
Norfolk Southern Stock Down 2.1 %
NSC traded down $4.23 during midday trading on Tuesday, hitting $199.90. The company had a trading volume of 336,222 shares, compared to its average volume of 1,419,074. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.15. The stock’s 50 day moving average price is $218.15 and its 200 day moving average price is $214.58. The company has a market capitalization of $45.38 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 2.44 and a beta of 1.29. Norfolk Southern Co. has a 52 week low of $194.05 and a 52 week high of $261.71.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The railroad operator reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.20). Norfolk Southern had a net margin of 20.25% and a return on equity of 24.88%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the business posted $3.45 EPS. The company’s revenue was down 8.3% on a year-over-year basis. On average, research analysts anticipate that Norfolk Southern Co. will post 12.55 earnings per share for the current fiscal year.
Norfolk Southern Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 4th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Thursday, August 3rd. Norfolk Southern’s dividend payout ratio is currently 48.56%.
Norfolk Southern Company Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.
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