Dixon Hubard Feinour & Brown Inc. VA lessened its position in Norfolk Southern Corp. (NYSE:NSC) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,449 shares of the railroad operator’s stock after selling 653 shares during the quarter. Norfolk Southern comprises 1.5% of Dixon Hubard Feinour & Brown Inc. VA’s holdings, making the stock its 22nd largest position. Dixon Hubard Feinour & Brown Inc. VA’s holdings in Norfolk Southern were worth $5,130,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Norfolk Southern in the first quarter valued at approximately $25,000. Bruderman Asset Management LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $26,000. Pinnacle Bank acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $33,000. PRW Wealth Management LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $36,000. Finally, Athena Capital Advisors LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 72.49% of the company’s stock.
In other news, COO Michael Joseph Wheeler sold 2,500 shares of Norfolk Southern stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $204.57, for a total value of $511,425.00. Following the completion of the sale, the chief operating officer now directly owns 12,919 shares of the company’s stock, valued at $2,642,839.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman James A. Squires sold 3,024 shares of Norfolk Southern stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total value of $619,043.04. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.34. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.93 earnings per share. As a group, equities research analysts anticipate that Norfolk Southern Corp. will post 10.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 3rd were paid a dividend of $0.86 per share. The ex-dividend date was Thursday, May 2nd. This represents a $3.44 annualized dividend and a yield of 1.77%. Norfolk Southern’s dividend payout ratio (DPR) is 36.17%.
Several research firms recently commented on NSC. Cowen reaffirmed an “outperform” rating and issued a $230.00 price target (up previously from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. TD Securities increased their price target on Norfolk Southern from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Argus increased their price target on Norfolk Southern from $210.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Barclays increased their price target on Norfolk Southern from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Finally, BMO Capital Markets increased their price target on Norfolk Southern from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $203.11.
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Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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