HORAN Wealth LLC Lowers Position in Norfolk Southern Corporation $NSC

HORAN Wealth LLC cut its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 49.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,812 shares of the railroad operator’s stock after selling 3,794 shares during the quarter. HORAN Wealth LLC’s holdings in Norfolk Southern were worth $1,199,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth about $25,000. BNP Paribas purchased a new position in Norfolk Southern during the 2nd quarter valued at about $26,000. Edmond DE Rothschild Holding S.A. purchased a new position in Norfolk Southern during the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. boosted its stake in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 67 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Norfolk Southern during the second quarter worth about $31,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada raised their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Stephens raised Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Citigroup upped their price target on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Barclays raised their price objective on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, Norfolk Southern currently has an average rating of “Hold” and an average price target of $348.00.

Norfolk Southern Trading Down 0.1%

Shares of NYSE NSC opened at $329.07 on Monday. The firm’s 50 day moving average price is $335.43 and its 200-day moving average price is $315.67. The company has a market cap of $73.91 billion, a PE ratio of 28.08, a P/E/G ratio of 4.89 and a beta of 1.27. Norfolk Southern Corporation has a 52-week low of $268.23 and a 52-week high of $358.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.29 earnings per share. On average, equities research analysts expect that Norfolk Southern Corporation will post 12.87 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were paid a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern’s payout ratio is currently 46.08%.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.