Hara Capital LLC Takes $604,000 Position in Norfolk Southern Corporation $NSC

Hara Capital LLC acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,920 shares of the railroad operator’s stock, valued at approximately $604,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. bought a new position in shares of Norfolk Southern during the second quarter valued at approximately $26,000. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $27,000. Comprehensive Financial Planning Inc. PA acquired a new position in Norfolk Southern during the 2nd quarter valued at approximately $31,000. Finally, BNP Paribas acquired a new position in Norfolk Southern during the 2nd quarter valued at approximately $26,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NSC shares. Robert W. Baird increased their target price on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Evercore set a $358.00 price target on shares of Norfolk Southern in a research report on Thursday, July 23rd. Rothschild & Co Redburn increased their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, Citigroup lifted their price objective on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $348.00.

Norfolk Southern Stock Up 0.4%

Shares of Norfolk Southern stock opened at $347.15 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60. The business’s fifty day moving average price is $327.49 and its two-hundred day moving average price is $313.05. The company has a market capitalization of $77.97 billion, a P/E ratio of 29.62, a PEG ratio of 6.12 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.29 earnings per share. As a group, research analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s dividend payout ratio is currently 46.08%.

Norfolk Southern Company Profile

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.