Norfolk Southern Corp. (NYSE:NSC) Shares Acquired by Hayden Royal LLC

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Hayden Royal LLC boosted its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 16.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,297 shares of the railroad operator’s stock after purchasing an additional 182 shares during the period. Hayden Royal LLC’s holdings in Norfolk Southern were worth $261,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NSC. Weaver Consulting Group bought a new stake in Norfolk Southern in the 1st quarter valued at about $30,000. AGF Investments LLC increased its stake in Norfolk Southern by 173.5% during the 2nd quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock valued at $37,000 after buying an additional 118 shares during the period. Coastal Capital Group Inc. acquired a new position in Norfolk Southern during the 2nd quarter valued at about $40,000. Advisory Alpha LLC acquired a new position in Norfolk Southern during the 1st quarter valued at about $42,000. Finally, Contravisory Investment Management Inc. increased its stake in Norfolk Southern by 18.4% during the 2nd quarter. Contravisory Investment Management Inc. now owns 360 shares of the railroad operator’s stock valued at $72,000 after buying an additional 56 shares during the period. 73.49% of the stock is owned by institutional investors and hedge funds.

In other Norfolk Southern news, Director Jennifer F. Scanlon bought 525 shares of Norfolk Southern stock in a transaction on Monday, July 29th. The stock was purchased at an average cost of $191.52 per share, for a total transaction of $100,548.00. Following the completion of the purchase, the director now directly owns 525 shares of the company’s stock, valued at $100,548. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman James A. Squires sold 3,024 shares of Norfolk Southern stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total transaction of $619,043.04. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Several equities analysts have recently issued reports on NSC shares. Cowen reaffirmed an “outperform” rating and issued a $230.00 price objective (up previously from $200.00) on shares of Norfolk Southern in a research note on Wednesday, April 24th. Loop Capital lifted their price objective on shares of Norfolk Southern to $237.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Cascend Securities cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Goldman Sachs Group started coverage on shares of Norfolk Southern in a research note on Wednesday, July 10th. They issued a “buy” rating and a $237.00 price objective on the stock. Finally, Barclays lifted their price objective on shares of Norfolk Southern from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $205.83.

NSC stock opened at $177.50 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.68 and a current ratio of 0.78. The firm has a market capitalization of $45.98 billion, a PE ratio of 18.66, a P/E/G ratio of 1.44 and a beta of 1.31. The stock’s 50 day moving average is $192.67. Norfolk Southern Corp. has a 52 week low of $138.65 and a 52 week high of $211.46.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.77 by ($0.07). The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.95 billion. Norfolk Southern had a net margin of 24.15% and a return on equity of 18.24%. Norfolk Southern’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 earnings per share. On average, analysts predict that Norfolk Southern Corp. will post 10.67 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 5th will be paid a $0.94 dividend. The ex-dividend date is Friday, August 2nd. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a yield of 2.12%. Norfolk Southern’s payout ratio is 39.54%.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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