Fox Hill Wealth Management Buys New Shares in Norfolk Southern Corporation $NSC

Fox Hill Wealth Management bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,838 shares of the railroad operator's stock, valued at approximately $3,095,000. Norfolk Southern makes up approximately 1.2% of Fox Hill Wealth Management's portfolio, making the stock its 24th largest position.

Several other large investors have also recently bought and sold shares of NSC. Louisiana State Employees Retirement System bought a new position in Norfolk Southern during the 1st quarter worth approximately $3,272,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Norfolk Southern by 9.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator's stock valued at $12,533,000 after acquiring an additional 3,887 shares during the last quarter. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $3,669,000. SCS Capital Management LLC acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at approximately $13,837,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in Norfolk Southern during the second quarter worth $1,376,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NSC has been the subject of several recent research reports. Wall Street Zen upgraded shares of Norfolk Southern from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Royal Bank Of Canada raised their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a "sector perform" rating in a research report on Friday, July 24th. Citigroup lifted their price target on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a "neutral" rating in a report on Friday, July 24th. BMO Capital Markets boosted their price objective on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Finally, Stephens raised shares of Norfolk Southern to a "hold" rating in a report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $348.00.

Norfolk Southern Stock Performance

NSC stock opened at $348.67 on Friday. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The stock has a market capitalization of $78.31 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 5.22 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The stock's fifty day moving average is $332.87 and its two-hundred day moving average is $315.01.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping 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 business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the firm earned $3.29 earnings per share. The company's quarterly revenue was up 12.5% on a year-over-year basis. On average, research analysts predict that Norfolk Southern Corporation will post 12.74 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were given a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.5%. Norfolk Southern's dividend payout ratio is 46.08%.

Norfolk Southern 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.

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