Hoxton Planning & Management LLC Makes New Investment in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Hoxton Planning & Management LLC acquired 2,369 shares of Norfolk Southern Corporation, valued at approximately $561,000, in the first quarter.
• Analysts have mixed ratings for Norfolk Southern, with a general consensus of a "hold" rating and an average price target of $285.15.
• The company declared a quarterly dividend of $1.35 per share, representing an annualized yield of 1.93%, payable on August 20th.

Hoxton Planning & Management LLC purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 2,369 shares of the railroad operator's stock, valued at approximately $561,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NSC. Geode Capital Management LLC lifted its position in Norfolk Southern by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock worth $1,098,472,000 after buying an additional 113,648 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after purchasing an additional 159 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in Norfolk Southern by 1.9% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock worth $846,000 after purchasing an additional 65 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Norfolk Southern by 4.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock worth $16,925,000 after purchasing an additional 2,782 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Norfolk Southern by 8.3% in the 1st quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator's stock worth $990,000 after purchasing an additional 321 shares during the period. Hedge funds and other institutional investors own 75.10% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a "hold" rating and set a $300.00 target price on shares of Norfolk Southern in a research note on Friday, July 25th. Stifel Nicolaus reduced their target price on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Susquehanna restated a "neutral" rating and issued a $260.00 target price (up previously from $250.00) on shares of Norfolk Southern in a research note on Tuesday, June 24th. The Goldman Sachs Group reissued a "neutral" rating and issued a $278.00 price target on shares of Norfolk Southern in a research report on Monday, June 2nd. Finally, Barclays increased their price target on shares of Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $285.15.

Norfolk Southern Price Performance

Shares of NSC stock traded up $2.83 on Monday, hitting $277.68. 1,222,449 shares of the stock traded hands, compared to its average volume of 1,534,478. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $288.11. The firm has a 50 day simple moving average of $259.97 and a two-hundred day simple moving average of $244.71. The firm has a market cap of $62.37 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 2.44 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, beating the consensus estimate of $3.24 by $0.05. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. As a group, equities research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be given a dividend of $1.35 per share. The ex-dividend date is Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern's dividend payout ratio is currently 36.49%.

Norfolk Southern 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.