HORAN Wealth LLC Invests $525,000 in Norfolk Southern Corporation $NSC

HORAN Wealth LLC acquired a new position in Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,052 shares of the railroad operator’s stock, valued at approximately $525,000.

Other institutional investors have also recently modified their holdings of the company. WPG Advisers LLC purchased a new position in shares of Norfolk Southern in the first quarter worth about $27,000. NewSquare Capital LLC raised its stake in shares of Norfolk Southern by 58.5% in the second quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of Norfolk Southern in the first quarter worth about $41,000. Pinnacle Bancorp Inc. raised its stake in shares of Norfolk Southern by 30.5% in the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after purchasing an additional 43 shares during the last quarter. Finally, Chung Wu Investment Group LLC purchased a new position in Norfolk Southern during the second quarter valued at approximately $51,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Down 1.1%

Norfolk Southern stock opened at $280.79 on Thursday. The stock has a market capitalization of $63.01 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. The business has a 50 day simple moving average of $285.96 and a 200-day simple moving average of $266.41. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.25 earnings per share. On average, analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern’s payout ratio is currently 41.19%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price target on shares of Norfolk Southern in a research report on Friday, July 25th. Loop Capital lifted their price target on Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research report on Tuesday, September 16th. Susquehanna lifted their price target on Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Royal Bank Of Canada reduced their price target on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a research report on Friday, October 24th. Finally, Evercore ISI lifted their price target on Norfolk Southern from $289.00 to $298.00 in a research report on Thursday, September 25th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern presently has an average rating of “Hold” and an average price target of $299.70.

Insider Activity

In other news, Director Richard H. Anderson purchased 2,600 shares of the stock in a transaction dated Monday, October 27th. The shares were purchased at an average cost of $281.86 per share, with a total value of $732,836.00. Following the completion of the purchase, the director directly owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. The trade was a 59.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

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.