Trajan Wealth LLC Takes Position in Norfolk Southern Corporation $NSC

Key Points

• Trajan Wealth LLC purchased 41,858 shares of Norfolk Southern in the second quarter, valued at approximately $13.2 million. Institutional investors collectively own 75.1% of the company.
• Norfolk Southern reported quarterly EPS of $3.52, exceeding analyst expectations of $3.32, while revenue rose 12.5% year over year to $3.46 billion.
• The company paid a quarterly dividend of $1.35 per share, equivalent to an annualized $5.40 payout and a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $348.

Trajan Wealth LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 41,858 shares of the railroad operator's stock, valued at approximately $13,168,000.

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

Norfolk Southern Trading Up 0.6%

Norfolk Southern stock opened at $352.91 on Tuesday. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. 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 stock has a market cap of $79.27 billion, a P/E ratio of 30.11, a P/E/G ratio of 6.21 and a beta of 1.27. The company's fifty day simple moving average is $329.08 and its 200-day simple moving average is $313.85.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts' consensus estimates of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company posted $3.29 earnings per share. The business's quarterly revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were issued 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 1.5%. Norfolk Southern's dividend payout ratio is currently 46.08%.

Analysts Set New Price Targets

NSC has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Norfolk Southern from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Robert W. Baird increased their target price on Norfolk Southern from $360.00 to $377.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Weiss Ratings upgraded Norfolk Southern from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Susquehanna upped their price target on Norfolk Southern from $337.00 to $360.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Finally, Benchmark reissued a "hold" rating on shares of Norfolk Southern in a research note on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, Norfolk Southern presently has an average rating of "Hold" and a consensus price target of $348.00.

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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