Hurlow Wealth Management Group Inc. Buys New Stake in Norfolk Southern Corporation $NSC

Hurlow Wealth Management Group Inc. purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,846 shares of the railroad operator’s stock, valued at approximately $581,000.

Several other institutional investors and hedge funds have also made changes to their positions in NSC. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth about $25,000. BNP Paribas acquired a new position in Norfolk Southern in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new position in Norfolk Southern in the second quarter valued at approximately $27,000. Financial Life Planners purchased a new position in Norfolk Southern in the first quarter valued at approximately $33,000. Finally, Bayban acquired a new stake in Norfolk Southern during the fourth quarter worth approximately $34,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 0.5%

Shares of NYSE:NSC opened at $339.44 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm’s 50-day simple moving average is $326.03 and its 200-day simple moving average is $312.27. Norfolk Southern Corporation has a fifty-two week low of $268.23 and a fifty-two week high of $358.60. The company has a market cap of $76.24 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 5.92 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the business posted $3.29 earnings per share. Norfolk Southern’s revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be given a $1.35 dividend. The ex-dividend date is Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.08%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NSC. Susquehanna upped their target price on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Rothschild & Co Redburn boosted their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. upped their price objective on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Barclays raised their price objective on Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company lifted their target price on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $348.00.

Norfolk Southern 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.