Trajan Wealth LLC Buys Shares of 41,858 Norfolk Southern Corporation $NSC

Trajan Wealth LLC purchased a new position in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, Holdings Channel reports. The fund purchased 41,858 shares of the railroad operator’s stock, valued at approximately $13,168,000.

Other large investors also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern in the 3rd quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in Norfolk Southern during the second quarter worth approximately $26,000. BNP Paribas bought a new stake in Norfolk Southern during the second quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new position in Norfolk Southern during the second quarter valued at approximately $27,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Norfolk Southern in the second quarter valued at approximately $31,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.6%

Shares of NSC stock opened at $352.91 on Tuesday. The firm has a market capitalization of $79.27 billion, a P/E ratio of 30.11, a price-to-earnings-growth ratio of 6.21 and a beta of 1.27. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The firm’s fifty day simple moving average is $329.08 and its 200 day simple moving average is $313.85. 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 (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 EPS. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NSC. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Barclays lifted their target price on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Robert W. Baird upped their price target on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Citigroup raised their price target on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Rothschild & Co Redburn lifted their price objective on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Company 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.