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Taylor Financial Group Inc. Invests $19.94 Million in Norfolk Southern Co. (NYSE:NSC)

Norfolk Southern logo with Transportation background

Taylor Financial Group Inc. purchased a new position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 84,344 shares of the railroad operator's stock, valued at approximately $19,937,000. Norfolk Southern makes up approximately 16.4% of Taylor Financial Group Inc.'s portfolio, making the stock its biggest position.

Several other large investors also recently made changes to their positions in the stock. Provence Wealth Management Group acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC lifted its position in shares of Norfolk Southern by 662.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator's stock worth $29,000 after purchasing an additional 106 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $32,000. Orion Capital Management LLC acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Norfolk Southern during the 4th quarter worth about $32,000. Institutional investors own 75.10% of the company's stock.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Claude Mongeau acquired 5,650 shares of the firm's stock in a transaction on Wednesday, May 29th. The shares were purchased at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the transaction, the director now owns 20,000 shares of the company's stock, valued at $4,420,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Claude E. Elkins sold 8,329 shares of the firm's stock in a transaction on Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company's stock.

Norfolk Southern Price Performance

NYSE NSC traded down $1.93 during trading hours on Friday, reaching $219.91. 925,461 shares of the company's stock were exchanged, compared to its average volume of 1,318,718. The stock has a market cap of $49.68 billion, a PE ratio of 35.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The firm has a fifty day moving average of $233.19 and a 200-day moving average of $239.03. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37.


Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts' consensus estimates of $2.58 by ($0.09). The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm's revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $3.32 earnings per share. On average, equities research analysts predict that Norfolk Southern Co. will post 11.88 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were given a $1.35 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.46%. Norfolk Southern's payout ratio is 86.96%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NSC. Susquehanna cut their price objective on Norfolk Southern from $270.00 to $265.00 and set a "neutral" rating for the company in a research report on Wednesday, April 10th. Loop Capital upped their price target on Norfolk Southern from $261.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, April 18th. UBS Group cut their price target on Norfolk Southern from $302.00 to $294.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Jefferies Financial Group began coverage on Norfolk Southern in a report on Monday, April 8th. They issued a "buy" rating and a $300.00 price target for the company. Finally, Barclays cut their price target on Norfolk Southern from $305.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $264.56.

View Our Latest Analysis on Norfolk Southern

About Norfolk Southern

(Free Report)

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.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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