Fox Hill Wealth Management Buys New Stake in Norfolk Southern Corporation $NSC

Fox Hill Wealth Management bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, Holdings Channel reports. The firm bought 9,838 shares of the railroad operator’s stock, valued at approximately $3,095,000. Norfolk Southern comprises approximately 1.2% of Fox Hill Wealth Management’s investment portfolio, making the stock its 24th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in NSC. Louisiana State Employees Retirement System purchased a new position in Norfolk Southern in the 1st quarter valued at $3,272,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Norfolk Southern by 9.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after buying an additional 3,887 shares in the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Norfolk Southern during the second quarter worth $3,669,000. SCS Capital Management LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $13,837,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $1,376,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $348.67 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The firm has a market capitalization of $78.31 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 5.22 and a beta of 1.27. The company’s 50-day moving average is $332.87 and its two-hundred day moving average is $315.01. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The business 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% compared to the same quarter last year. During the same quarter last year, the firm earned $3.29 EPS. Analysts forecast that Norfolk Southern Corporation will post 12.74 EPS for the current year.

Norfolk Southern Announces Dividend

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

Analyst Upgrades and Downgrades

NSC has been the topic of a number of recent research reports. TD Cowen boosted their price target on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Wells Fargo & Company upped their price target on Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Barclays increased their price target on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Finally, Susquehanna boosted their price objective on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $348.00.

About Norfolk Southern

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.