Hyman Charles D Buys 1,488 Shares of Norfolk Southern Co. (NYSE:NSC)
Hyman Charles D boosted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.5% in the first quarter, Holdings Channel reports. The firm owned 101,534 shares of the railroad operator’s stock after purchasing an additional 1,488 shares during the quarter. Norfolk Southern comprises about 2.0% of Hyman Charles D’s portfolio, making the stock its 15th biggest holding. Hyman Charles D’s holdings in Norfolk Southern were worth $27,264,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Clear Perspectives Financial Planning LLC bought a new position in Norfolk Southern during the fourth quarter worth about $30,000. Vantage Consulting Group Inc bought a new position in Norfolk Southern during the fourth quarter worth about $31,000. Norway Savings Bank lifted its stake in Norfolk Southern by 416.7% during the fourth quarter. Norway Savings Bank now owns 155 shares of the railroad operator’s stock worth $37,000 after purchasing an additional 125 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $38,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $50,000. Hedge funds and other institutional investors own 67.25% of the company’s stock.
Several analysts have recently weighed in on the stock. Evercore ISI reaffirmed an “in-line” rating on shares of Norfolk Southern in a report on Wednesday, March 3rd. Cowen raised their price objective on shares of Norfolk Southern from $224.00 to $254.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Morgan Stanley raised their price objective on shares of Norfolk Southern from $145.00 to $165.00 and gave the stock an “underweight” rating in a report on Tuesday, April 13th. BMO Capital Markets raised their price target on shares of Norfolk Southern from $250.00 to $285.00 and gave the company a “market perform” rating in a report on Thursday, April 29th. They noted that the move was a valuation call. Finally, Robert W. Baird raised shares of Norfolk Southern from a “neutral” rating to an “outperform” rating and set a $286.00 price target for the company in a report on Tuesday, January 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Norfolk Southern presently has an average rating of “Buy” and an average target price of $259.24.
NSC traded up $3.28 during trading on Tuesday, reaching $286.34. 7,983 shares of the company’s stock were exchanged, compared to its average volume of 1,168,598. The company’s fifty day moving average price is $271.25 and its 200-day moving average price is $247.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.16 and a current ratio of 1.29. Norfolk Southern Co. has a fifty-two week low of $157.48 and a fifty-two week high of $287.43. The firm has a market capitalization of $71.65 billion, a PE ratio of 36.43, a P/E/G ratio of 3.09 and a beta of 1.38.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 28th. The railroad operator reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.11. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Norfolk Southern had a net margin of 20.27% and a return on equity of 15.83%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $2.58 earnings per share. Research analysts forecast that Norfolk Southern Co. will post 9.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 20th. Stockholders of record on Friday, May 7th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, May 6th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.38%. Norfolk Southern’s dividend payout ratio is 38.30%.
Norfolk Southern Company 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 industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials; and coal, automobiles, and automotive parts.
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