Bahl & Gaynor Inc. Increases Position in Norfolk Southern Co. (NYSE:NSC)

Bahl & Gaynor Inc. grew its stake in Norfolk Southern Co. (NYSE:NSC) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,693 shares of the railroad operator’s stock after acquiring an additional 110 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Norfolk Southern were worth $2,470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State of Tennessee Treasury Department grew its stake in Norfolk Southern by 209.3% during the 4th quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock worth $26,454,000 after buying an additional 75,729 shares during the last quarter. Cerity Partners LLC grew its stake in Norfolk Southern by 37.1% during the 4th quarter. Cerity Partners LLC now owns 150,998 shares of the railroad operator’s stock worth $35,692,000 after buying an additional 40,861 shares during the last quarter. Catalytic Wealth RIA LLC purchased a new stake in Norfolk Southern during the 4th quarter valued at about $608,000. Tyche Wealth Partners LLC purchased a new stake in Norfolk Southern during the 4th quarter valued at about $984,000. Finally, BKM Wealth Management LLC purchased a new stake in Norfolk Southern during the 4th quarter valued at about $1,352,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NSC stock traded down $3.12 during trading hours on Tuesday, reaching $224.91. The company had a trading volume of 464,240 shares, compared to its average volume of 1,291,996. The company has a market capitalization of $50.81 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 2.25 and a beta of 1.32. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month 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 stock has a fifty day moving average of $222.82 and a 200-day moving average of $237.61.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the company posted $3.32 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. On average, equities analysts anticipate that Norfolk Southern Co. will post 11.62 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.40%. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Insider Activity

In related news, Director Sameh Fahmy acquired 2,000 shares of Norfolk Southern stock in a transaction dated Friday, June 14th. The shares were acquired at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the purchase, the director now owns 7,000 shares in the company, valued at $1,534,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy purchased 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

NSC has been the topic of several research analyst reports. UBS Group dropped their price target on Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada raised Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 price objective for the company in a report on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price objective on Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Barclays decreased their price objective on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Finally, Jefferies Financial Group initiated coverage on Norfolk Southern in a report on Monday, April 8th. They issued a “buy” rating and a $300.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $263.53.

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.