Norfolk Southern Corporation $NSC Shares Newly Bought by Scott Capital Advisors LLC

Key Points

• Scott Capital Advisors LLC acquired 17,046 Norfolk Southern shares worth approximately $5.34 million, making the railroad operator 0.8% of the firm’s portfolio. Institutional investors collectively own 75.1% of NSC.
• Analyst sentiment is mixed, with seven Buy ratings and 14 Holds. Norfolk Southern has an average rating of Hold and a consensus price target of $346.94.
• Norfolk Southern reported quarterly EPS of $3.52, exceeding estimates of $3.32, while revenue rose 12.5% year over year to $3.46 billion. The company also maintains a quarterly dividend of $1.35, equivalent to a 1.7% yield.

Scott Capital Advisors LLC bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,046 shares of the railroad operator's stock, valued at approximately $5,339,000. Norfolk Southern makes up approximately 0.8% of Scott Capital Advisors LLC's holdings, making the stock its 22nd biggest holding.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Norfolk Southern in the second quarter worth about $5,033,549,000. Bank of America Corp DE bought a new stake in Norfolk Southern during the second quarter worth approximately $978,977,000. Dimensional Fund Advisors LP raised its position in Norfolk Southern by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator's stock valued at $648,429,000 after purchasing an additional 46,127 shares during the period. Amundi raised its position in Norfolk Southern by 24.2% during the first quarter. Amundi now owns 2,226,885 shares of the railroad operator's stock valued at $639,116,000 after purchasing an additional 434,074 shares during the period. Finally, London Co. of Virginia lifted its stake in shares of Norfolk Southern by 0.3% in the 4th quarter. London Co. of Virginia now owns 1,810,853 shares of the railroad operator's stock valued at $522,838,000 after purchasing an additional 5,729 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NSC has been the subject of several analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $363.00 price objective on shares of Norfolk Southern in a research note on Friday, July 24th. Benchmark reissued a "hold" rating on shares of Norfolk Southern in a research report on Friday, July 24th. Barclays increased their price target on Norfolk Southern from $360.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Susquehanna lowered their price target on Norfolk Southern from $386.00 to $350.00 and set a "neutral" rating for the company in a research report on Friday, October 2nd. Finally, Royal Bank Of Canada lowered their price target on Norfolk Southern from $360.00 to $330.00 and set a "sector perform" rating for the company in a research report on Thursday, September 24th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, Norfolk Southern presently has an average rating of "Hold" and a consensus price target of $346.94.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $319.47 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. Norfolk Southern Corporation has a 12 month low of $277.80 and a 12 month high of $358.60. The company has a market capitalization of $71.76 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 4.73 and a beta of 1.29. The firm's 50-day moving average is $328.42 and its 200 day moving average is $318.28.

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 return on equity of 18.21% and a net margin of 21.02%. 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 previous year, the business earned $3.29 earnings per share. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts predict that Norfolk Southern Corporation will post 12.85 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were paid a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern's dividend payout ratio (DPR) is presently 46.08%.

Norfolk Southern Profile

Norfolk Southern Corporation NYSE: NSC is a transportation company that operates one of the largest rail networks in the eastern United States. Through its principal subsidiary, Norfolk Southern Railway, the company provides freight rail transportation and related services for industrial, agricultural and consumer markets.

Norfolk Southern's network serves 22 states and the District of Columbia, connecting major ports, manufacturing centers and distribution hubs across the East Coast and the Midwest.

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