Norfolk Southern Corporation $NSC Shares Newly Acquired by Scott Capital Advisors LLC

Scott Capital Advisors LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,046 shares of the railroad operator’s stock, valued at approximately $5,339,000. Norfolk Southern accounts for approximately 0.8% of Scott Capital Advisors LLC’s portfolio, making the stock its 22nd biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Norfolk Southern in the second quarter worth about $5,033,549,000. Bank of America Corp DE bought a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $978,977,000. Legal & General Group Plc bought a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $503,093,000. Bank of New York Mellon Corp bought a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $364,414,000. Finally, Deutsche Bank AG purchased a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $356,558,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.5%

Shares of Norfolk Southern stock opened at $319.47 on Tuesday. 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 Corporation has a 12-month low of $277.80 and a 12-month high of $358.60. The firm has a market capitalization of $71.76 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 4.73 and a beta of 1.29. The firm’s 50 day simple moving average is $328.42 and its two-hundred day simple moving average is $318.28.

Norfolk Southern (NYSE:NSC) last posted 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. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the company posted $3.29 earnings per share. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts predict that Norfolk Southern Corporation will post 12.85 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio is presently 46.08%.

Analyst Upgrades and Downgrades

NSC has been the subject of several recent analyst reports. UBS Group restated a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern in a research note on Friday, July 24th. Citigroup reaffirmed a “cautious” rating on shares of Norfolk Southern in a research report on Wednesday, October 7th. JPMorgan Chase & Co. decreased their price objective on Norfolk Southern from $338.00 to $318.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Evercore raised their price objective on Norfolk Southern from $358.00 to $360.00 in a research report on Wednesday, September 30th. Finally, Royal Bank Of Canada dropped their target price on Norfolk Southern from $360.00 to $330.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 24th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $346.94.

About Norfolk Southern

Norfolk Southern Corporation (NYSE: NSC) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its principal subsidiary, Norfolk Southern Railway, the company provides freight rail transportation and related services for industrial, agricultural and consumer markets.

Norfolk Southern’s network serves 22 states and the District of Columbia, connecting major ports, manufacturing centers and distribution hubs across the East Coast and the Midwest.