Hurlow Wealth Management Group Inc. Sells 145 Shares of Norfolk Southern Co. (NYSE:NSC)

Hurlow Wealth Management Group Inc. decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 6.2% during the 1st quarter, HoldingsChannel reports. The firm owned 2,182 shares of the railroad operator’s stock after selling 145 shares during the quarter. Hurlow Wealth Management Group Inc.’s holdings in Norfolk Southern were worth $556,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in Norfolk Southern by 6.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,527 shares of the railroad operator’s stock worth $10,584,000 after acquiring an additional 2,483 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in Norfolk Southern by 72.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,900 shares of the railroad operator’s stock worth $739,000 after purchasing an additional 1,221 shares in the last quarter. Eagle Rock Investment Company LLC lifted its stake in Norfolk Southern by 15.6% in the 1st quarter. Eagle Rock Investment Company LLC now owns 20,594 shares of the railroad operator’s stock valued at $5,249,000 after purchasing an additional 2,773 shares during the last quarter. Chemistry Wealth Management LLC boosted its position in Norfolk Southern by 2.2% in the first quarter. Chemistry Wealth Management LLC now owns 4,551 shares of the railroad operator’s stock valued at $1,160,000 after buying an additional 97 shares in the last quarter. Finally, Evanson Asset Management LLC bought a new stake in shares of Norfolk Southern during the first quarter worth $211,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NSC. Jefferies Financial Group initiated coverage on Norfolk Southern in a report on Monday, April 8th. They set a “buy” rating and a $300.00 price objective on the stock. Barclays reduced their price target on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. Loop Capital raised their price objective on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Benchmark reissued a “buy” rating and set a $277.00 target price on shares of Norfolk Southern in a report on Thursday, April 25th. Finally, TD Cowen raised their price target on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $262.89.

Norfolk Southern Trading Down 1.2 %

Shares of NYSE:NSC traded down $2.59 during midday trading on Thursday, reaching $209.90. The company’s stock had a trading volume of 1,826,179 shares, compared to its average volume of 1,330,661. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. The firm has a 50 day moving average price of $228.23 and a two-hundred day moving average price of $239.07. The firm has a market capitalization of $47.42 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 2.01 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.09). The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. Norfolk Southern’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $3.32 earnings per share. As a group, analysts forecast that Norfolk Southern Co. will post 11.88 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Sameh Fahmy purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $219.25 per share, with a total value of $438,500.00. Following the purchase, the director now owns 7,000 shares in the company, valued at $1,534,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sameh Fahmy bought 2,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the transaction, the director now owns 7,000 shares of the company’s stock, valued at $1,534,750. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Company 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.