Norfolk Southern Corporation (NYSE:NSC) Plans Quarterly Dividend of $1.35

Norfolk Southern Corporation (NYSE:NSC) announced a quarterly dividend on Wednesday, October 21st. Investors of record on Friday, November 6th will be paid a dividend of $1.35 per share by the railroad operator on Friday, November 20th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, November 6th.

Norfolk Southern has raised its dividend payment by an average of 0.1% per year over the last three years. Norfolk Southern has a dividend payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Norfolk Southern to earn $13.87 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 38.9%.

Norfolk Southern Price Performance

Shares of NYSE:NSC traded up $6.36 during trading on Thursday, reaching $334.45. 214,550 shares of the company traded hands, compared to its average volume of 1,173,693. The firm has a market capitalization of $75.12 billion, a PE ratio of 28.52, a PEG ratio of 4.85 and a beta of 1.29. Norfolk Southern has a 52 week low of $277.80 and a 52 week high of $358.60. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The company’s 50 day moving average is $326.60 and its two-hundred day moving average is $320.24.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, October 22nd. The railroad operator reported $3.62 EPS for the quarter, beating the consensus estimate of $3.46 by $0.16. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.30 EPS. As a group, sell-side analysts predict that Norfolk Southern will post 12.81 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. acquired a new position in Norfolk Southern during the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. bought a new stake in shares of Norfolk Southern in the 2nd quarter worth $27,000. Elevation Wealth Partners LLC raised its holdings in shares of Norfolk Southern by 2,125.0% in the third quarter. Elevation Wealth Partners LLC now owns 89 shares of the railroad operator’s stock valued at $28,000 after purchasing an additional 85 shares during the last quarter. North Point Portfolio Managers Corp OH purchased a new stake in shares of Norfolk Southern in the third quarter valued at about $28,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Norfolk Southern during the second quarter valued at about $31,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation (NYSE:NSC) is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.