HORAN Wealth LLC Increases Stock Holdings in Norfolk Southern Corporation $NSC

HORAN Wealth LLC lifted its stake in Norfolk Southern Corporation (NYSE:NSC) by 100.0% in the first quarter, Holdings Channel.com reports. The firm owned 7,606 shares of the railroad operator’s stock after buying an additional 3,803 shares during the period. HORAN Wealth LLC’s holdings in Norfolk Southern were worth $2,189,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NSC. JPL Wealth Management LLC bought a new stake in Norfolk Southern in the third quarter worth $25,000. BNP Paribas bought a new position in Norfolk Southern during the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. grew its holdings in Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. Financial Life Planners purchased a new stake in Norfolk Southern in the 1st quarter worth about $33,000. Finally, Bayban purchased a new stake in Norfolk Southern in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NSC. Weiss Ratings lowered Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Wolfe Research increased their price target on Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Sanford C. Bernstein decreased their price target on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. TD Cowen boosted their price objective on Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Wells Fargo & Company upped their price objective on Norfolk Southern from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and a consensus price target of $329.35.

Norfolk Southern Trading Down 1.5%

Shares of NSC opened at $335.11 on Tuesday. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $342.53. The company has a 50-day moving average of $315.26 and a 200 day moving average of $304.81. The firm has a market capitalization of $75.26 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 6.22 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $2.69 EPS. On average, research analysts expect that Norfolk Southern Corporation will post 12.24 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s payout ratio is currently 45.49%.

About Norfolk Southern

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.