Taylor Hoffman Wealth Management boosted its position in Norfolk Southern Corp. (NYSE:NSC) by 11.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,113 shares of the railroad operator’s stock after purchasing an additional 1,416 shares during the quarter. Norfolk Southern comprises about 1.8% of Taylor Hoffman Wealth Management’s holdings, making the stock its 12th largest position. Taylor Hoffman Wealth Management’s holdings in Norfolk Southern were worth $2,536,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in NSC. Krane Funds Advisors LLC bought a new stake in Norfolk Southern during the 2nd quarter valued at $26,000. Prestige Wealth Management Group LLC bought a new stake in Norfolk Southern during the 2nd quarter valued at $35,000. Vigilant Capital Management LLC bought a new stake in Norfolk Southern during the 3rd quarter valued at $36,000. AGF Investments LLC raised its holdings in Norfolk Southern by 173.5% during the 2nd quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock valued at $37,000 after acquiring an additional 118 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Norfolk Southern by 7,100.0% during the 3rd quarter. Larson Financial Group LLC now owns 216 shares of the railroad operator’s stock valued at $39,000 after acquiring an additional 213 shares during the period. 72.95% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on NSC. Cascend Securities cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Credit Suisse Group upped their price target on shares of Norfolk Southern from $198.00 to $199.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. ValuEngine raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Cowen reaffirmed a “buy” rating and issued a $215.00 price target on shares of Norfolk Southern in a report on Wednesday, October 23rd. Finally, BMO Capital Markets decreased their price target on shares of Norfolk Southern from $200.00 to $195.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $204.29.
NYSE:NSC traded down $0.14 during midday trading on Friday, hitting $195.44. The company had a trading volume of 888,465 shares, compared to its average volume of 1,670,462. Norfolk Southern Corp. has a 52-week low of $138.65 and a 52-week high of $211.46. The stock’s fifty day moving average price is $181.90 and its 200-day moving average price is $189.20. The company has a market capitalization of $50.53 billion, a PE ratio of 20.55, a P/E/G ratio of 1.94 and a beta of 1.37. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 0.73.
Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, October 23rd. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by ($0.08). Norfolk Southern had a return on equity of 18.22% and a net margin of 23.98%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the firm posted $2.52 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, research analysts forecast that Norfolk Southern Corp. will post 10.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 1st will be given a $0.94 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.76 annualized dividend and a yield of 1.92%. Norfolk Southern’s dividend payout ratio (DPR) is presently 39.54%.
Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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