3,220 Shares in Norfolk Southern Corporation $NSC Purchased by Hayek Kallen Investment Management

Key Points

• Hayek Kallen Investment Management purchased 3,220 Norfolk Southern shares worth approximately $1.013 million in the second quarter. Institutional investors collectively own 75.10% of the railroad operator.
• Norfolk Southern reported quarterly EPS of $3.52, beating estimates by $0.20, while revenue rose 12.5% year over year to $3.46 billion.
• The company pays a quarterly dividend of $1.35, or $5.40 annualized, yielding approximately 1.6%. Analysts maintain a consensus “Hold” rating with a $348 price target.

Hayek Kallen Investment Management acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,220 shares of the railroad operator's stock, valued at approximately $1,013,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NSC. Edmond DE Rothschild Holding S.A. bought a new position in shares of Norfolk Southern in the second quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Norfolk Southern during the second quarter valued at approximately $27,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Norfolk Southern during the second quarter valued at approximately $31,000. Finally, BNP Paribas purchased a new position in Norfolk Southern in the 2nd quarter worth approximately $26,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

NYSE NSC opened at $347.32 on Friday. 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 firm has a market capitalization of $78.01 billion, a P/E ratio of 29.63, a PEG ratio of 5.29 and a beta of 1.27. The company has a 50-day moving average price of $331.90 and a 200-day moving average price of $314.78. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the business posted $3.29 earnings per share. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that Norfolk Southern Corporation will post 12.74 earnings per share for the current year.

Norfolk Southern Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on NSC. Benchmark reiterated a "hold" rating on shares of Norfolk Southern in a research note on Friday, July 24th. Citigroup upped their price target on Norfolk Southern from $351.00 to $376.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Susquehanna boosted their target price on Norfolk Southern from $337.00 to $360.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Finally, Stephens raised shares of Norfolk Southern to a "hold" rating in a report on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $348.00.

About Norfolk Southern

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.

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