3,220 Shares in Norfolk Southern Corporation $NSC Acquired by Hayek Kallen Investment Management

Hayek Kallen Investment Management purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,220 shares of the railroad operator’s stock, valued at approximately $1,013,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. JPL Wealth Management LLC bought a new position in Norfolk Southern in the 3rd quarter worth $25,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Norfolk Southern in the second quarter worth about $26,000. BNP Paribas purchased a new stake in shares of Norfolk Southern during the second quarter worth about $26,000. Meeder Asset Management Inc. bought a new stake in Norfolk Southern during the 2nd quarter valued at approximately $27,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Norfolk Southern during the 2nd quarter valued at approximately $31,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $347.32 on Friday. The firm has a market cap of $78.01 billion, a PE ratio of 29.63, a PEG ratio of 5.29 and a beta of 1.27. The stock has a 50 day moving average of $331.90 and a 200 day moving average of $314.78. 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 $268.23 and a 12 month high of $358.60.

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 analysts’ consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.29 EPS. On average, research analysts expect that Norfolk Southern Corporation will post 12.74 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared 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 yield of 1.6%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s payout ratio is currently 46.08%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NSC shares. UBS Group restated a “neutral” rating and issued a $363.00 price target on shares of Norfolk Southern in a research note on Friday, July 24th. Citigroup lifted their price objective on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Finally, Evercore set a $358.00 target price on shares of Norfolk Southern in a research note on Thursday, July 23rd. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.