Linscomb Wealth Inc. Grows Holdings in Norfolk Southern Co. (NYSE:NSC)

Linscomb Wealth Inc. boosted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,482 shares of the railroad operator’s stock after acquiring an additional 153 shares during the period. Linscomb Wealth Inc.’s holdings in Norfolk Southern were worth $8,691,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Gryphon Financial Partners LLC grew its stake in shares of Norfolk Southern by 7.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,840 shares of the railroad operator’s stock worth $672,000 after buying an additional 198 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Norfolk Southern during the fourth quarter valued at $645,000. QRG Capital Management Inc. raised its position in shares of Norfolk Southern by 14.2% in the 4th quarter. QRG Capital Management Inc. now owns 16,112 shares of the railroad operator’s stock worth $3,809,000 after purchasing an additional 2,000 shares during the last quarter. Ieq Capital LLC boosted its stake in Norfolk Southern by 82.3% in the 4th quarter. Ieq Capital LLC now owns 8,957 shares of the railroad operator’s stock worth $2,117,000 after purchasing an additional 4,043 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in Norfolk Southern by 18.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 7,355 shares of the railroad operator’s stock valued at $1,738,000 after purchasing an additional 1,149 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Insider Activity

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Sameh Fahmy purchased 2,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the transaction, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the sale, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The disclosure for this sale can be found here. Insiders have bought 4,700 shares of company stock worth $1,105,065 in the last three months. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Benchmark lifted their target price on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Sanford C. Bernstein lowered their price objective on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Morgan Stanley reiterated an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. Royal Bank of Canada lowered their price target on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, TD Cowen increased their price objective on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and an average price target of $264.24.

Norfolk Southern Trading Up 0.2 %

Shares of NSC stock opened at $257.37 on Wednesday. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66. The firm has a fifty day moving average price of $238.25 and a 200-day moving average price of $238.06. The company has a market cap of $58.14 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 2.44 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.95 earnings per share. As a group, equities analysts predict that Norfolk Southern Co. will post 11.8 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were given a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.10%. Norfolk Southern’s payout ratio is currently 86.96%.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.