AE Wealth Management LLC decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,373 shares of the railroad operator’s stock after selling 63 shares during the quarter. AE Wealth Management LLC’s holdings in Norfolk Southern were worth $3,259,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Axiom Financial Strategies LLC grew its position in Norfolk Southern by 9.2% during the first quarter. Axiom Financial Strategies LLC now owns 852 shares of the railroad operator’s stock valued at $220,000 after purchasing an additional 72 shares in the last quarter. Fairfield Bush & CO. purchased a new position in Norfolk Southern during the first quarter valued at approximately $81,000. United Bank grew its stake in Norfolk Southern by 2.0% in the first quarter. United Bank now owns 7,581 shares of the railroad operator’s stock valued at $2,162,000 after purchasing an additional 148 shares in the last quarter. Cetera Investment Advisers grew its stake in Norfolk Southern by 4.6% in the first quarter. Cetera Investment Advisers now owns 8,640 shares of the railroad operator’s stock valued at $2,464,000 after purchasing an additional 377 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Norfolk Southern by 13.3% in the first quarter. Sequoia Financial Advisors LLC now owns 1,946 shares of the railroad operator’s stock valued at $555,000 after purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 72.37% of the company’s stock.
Wall Street Analyst Weigh In
NSC has been the topic of a number of recent research reports. Royal Bank of Canada boosted their target price on Norfolk Southern from $210.00 to $227.00 in a research note on Friday, July 28th. Vertical Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Tuesday, July 11th. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $250.00 to $260.00 in a research report on Tuesday, July 11th. Bank of America upped their price target on Norfolk Southern from $226.00 to $253.00 in a research note on Tuesday, July 11th. Finally, StockNews.com started coverage on Norfolk Southern in a research note on Thursday, August 17th. They set a “hold” rating for the company. Thirteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.40.
Norfolk Southern Price Performance
Shares of NSC stock opened at $201.29 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.15. The stock has a 50 day moving average of $216.54 and a two-hundred day moving average of $214.16. Norfolk Southern Co. has a 12 month low of $194.05 and a 12 month high of $261.71. The company has a market capitalization of $45.70 billion, a P/E ratio of 18.10, a P/E/G ratio of 2.44 and a beta of 1.29.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its quarterly earnings results 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 return on equity of 24.88% and a net margin of 20.25%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the business earned $3.45 EPS. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, equities analysts expect that Norfolk Southern Co. will post 12.43 EPS for the current 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 paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $5.40 annualized dividend and a yield of 2.68%. Norfolk Southern’s dividend payout ratio is currently 48.56%.
Norfolk Southern 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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