Johnson Investment Counsel Inc. decreased its position in Norfolk Southern Co. (NYSE:NSC – Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,411 shares of the railroad operator’s stock after selling 1,170 shares during the period. Johnson Investment Counsel Inc.’s holdings in Norfolk Southern were worth $7,350,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC purchased a new stake in Norfolk Southern in the 1st quarter valued at about $6,214,000. Charles Schwab Investment Management Inc. raised its position in Norfolk Southern by 0.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,235,490 shares of the railroad operator’s stock valued at $280,160,000 after purchasing an additional 4,598 shares during the period. Lineweaver Wealth Advisors LLC boosted its position in shares of Norfolk Southern by 8.0% during the second quarter. Lineweaver Wealth Advisors LLC now owns 3,975 shares of the railroad operator’s stock worth $904,000 after buying an additional 295 shares during the period. Cedar Brook Financial Partners LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at $220,000. Finally, Crewe Advisors LLC raised its holdings in shares of Norfolk Southern by 9.1% in the 1st quarter. Crewe Advisors LLC now owns 1,168 shares of the railroad operator’s stock valued at $248,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds own 72.37% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the stock. StockNews.com initiated coverage on shares of Norfolk Southern in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Citigroup dropped their price target on shares of Norfolk Southern from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Stifel Nicolaus decreased their target price on Norfolk Southern from $260.00 to $253.00 and set a “buy” rating for the company in a report on Tuesday, October 3rd. JPMorgan Chase & Co. reduced their price target on Norfolk Southern from $279.00 to $245.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 11th. Finally, Susquehanna lowered their price objective on Norfolk Southern from $245.00 to $215.00 and set a “neutral” rating for the company in a research report on Tuesday, October 3rd. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $237.15.
Norfolk Southern Stock Performance
Shares of Norfolk Southern stock traded up $2.70 during trading on Friday, reaching $211.04. The company’s stock had a trading volume of 1,219,315 shares, compared to its average volume of 1,328,164. The firm has a market cap of $47.72 billion, a PE ratio of 23.14, a P/E/G ratio of 2.87 and a beta of 1.29. The company has a 50-day moving average price of $198.03 and a two-hundred day moving average price of $211.18. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.28. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $261.71.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its earnings results on Wednesday, October 25th. The railroad operator reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.74 by ($0.09). The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Norfolk Southern had a return on equity of 22.26% and a net margin of 16.96%. On average, analysts forecast that Norfolk Southern Co. will post 11.81 EPS for the current year.
Norfolk Southern Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 3rd will be given a $1.35 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.56%. Norfolk Southern’s dividend payout ratio (DPR) is 59.21%.
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 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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