Norfolk Southern Co. (NYSE:NSC) Stock Position Lifted by Brookstone Capital Management

Posted by Defense World Staff on Jul 3rd, 2023

Brookstone Capital Management grew its position in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,260 shares of the railroad operator’s stock after buying an additional 106 shares during the period. Brookstone Capital Management’s holdings in Norfolk Southern were worth $1,523,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Luken Investment Analytics LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $25,000. Boyd Watterson Asset Management LLC OH bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $26,000. Capital Directions Investment Advisors LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $29,000. Worth Asset Management LLC bought a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $30,000. Finally, OLD Mission Capital LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $36,000. Institutional investors own 71.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NSC. BMO Capital Markets lowered their target price on Norfolk Southern from $250.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, April 27th. Royal Bank of Canada lowered their target price on Norfolk Southern from $221.00 to $210.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 27th. 1-800-FLOWERS.COM restated a “maintains” rating on shares of Norfolk Southern in a research report on Thursday, April 27th. Sanford C. Bernstein lowered their target price on Norfolk Southern from $239.00 to $226.00 and set a “market perform” rating on the stock in a research report on Thursday, April 27th. Finally, Evercore ISI upgraded Norfolk Southern from an “in-line” rating to an “outperform” rating and set a $242.00 target price on the stock in a research report on Wednesday, May 17th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $242.48.

Insider Transactions at Norfolk Southern

In related news, CEO Alan H. Shaw sold 2,000 shares of Norfolk Southern stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $209.55, for a total transaction of $419,100.00. Following the completion of the sale, the chief executive officer now owns 30,654 shares of the company’s stock, valued at $6,423,545.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $226.76 on Monday. The stock has a market cap of $51.62 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 2.40 and a beta of 1.29. The business has a fifty day simple moving average of $214.02 and a 200-day simple moving average of $224.32. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.15. Norfolk Southern Co. has a 12 month low of $196.33 and a 12 month high of $264.22.

Norfolk Southern (NYSE:NSC – Free Report) last issued its earnings results on Wednesday, April 26th. The railroad operator reported $3.32 EPS for the quarter, topping the consensus estimate of $3.15 by $0.17. The business had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a return on equity of 25.76% and a net margin of 23.40%. Norfolk Southern’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.93 earnings per share. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 13.36 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, May 20th. Stockholders of record on Friday, May 5th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $5.40 annualized dividend and a dividend yield of 2.38%. Norfolk Southern’s dividend payout ratio (DPR) is presently 41.51%.

Norfolk Southern Profile

(Free Report)

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.