Saxony Capital Management LLC Takes $205,000 Position in Norfolk Southern Corporation $NSC

Saxony Capital Management LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 800 shares of the railroad operator’s stock, valued at approximately $205,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares during the period. Golden State Wealth Management LLC increased its holdings in Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after purchasing an additional 159 shares during the period. Rossby Financial LCC acquired a new stake in Norfolk Southern in the first quarter valued at $60,000. Aaron Wealth Advisors LLC acquired a new stake in Norfolk Southern in the first quarter valued at $256,000. Finally, Pinnacle Financial Partners Inc increased its holdings in Norfolk Southern by 7.5% in the first quarter. Pinnacle Financial Partners Inc now owns 4,055 shares of the railroad operator’s stock valued at $960,000 after purchasing an additional 282 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NSC has been the subject of a number of recent research reports. Weiss Ratings downgraded Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Monday. Evercore ISI increased their price objective on Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Barclays increased their price objective on Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, UBS Group decreased their price target on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a report on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $299.70.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $283.91 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $285.55 and a two-hundred day moving average price of $264.73. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24. The company has a market cap of $63.71 billion, a P/E ratio of 21.66, a PEG ratio of 2.52 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the previous year, the business posted $3.25 earnings per share. The business’s revenue was up .0% on a year-over-year basis. As a group, analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s dividend payout ratio is 41.19%.

Insider Activity

In related news, Director Richard H. Anderson acquired 2,600 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were bought at an average price of $281.86 per share, with a total value of $732,836.00. Following the transaction, the director directly owned 7,000 shares of the company’s stock, valued at $1,973,020. This trade represents a 59.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

About Norfolk Southern

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.