AE Wealth Management LLC Acquires 770 Shares of Norfolk Southern Corporation $NSC

AE Wealth Management LLC boosted its holdings in Norfolk Southern Corporation (NYSE:NSC) by 13.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,394 shares of the railroad operator’s stock after acquiring an additional 770 shares during the period. AE Wealth Management LLC’s holdings in Norfolk Southern were worth $1,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC lifted its stake in shares of Norfolk Southern by 2.3% during the 2nd quarter. Princeton Global Asset Management LLC now owns 1,640 shares of the railroad operator’s stock worth $420,000 after buying an additional 37 shares during the last quarter. Horan Securities Inc. raised its holdings in Norfolk Southern by 2.1% in the 2nd quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock valued at $452,000 after acquiring an additional 37 shares during the period. Gables Capital Management Inc. lifted its position in Norfolk Southern by 2.7% during the second quarter. Gables Capital Management Inc. now owns 1,466 shares of the railroad operator’s stock worth $375,000 after acquiring an additional 38 shares during the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of Norfolk Southern by 1.7% during the second quarter. SeaCrest Wealth Management LLC now owns 2,429 shares of the railroad operator’s stock worth $622,000 after acquiring an additional 40 shares during the period. Finally, Gilbert & Cook Inc. boosted its holdings in shares of Norfolk Southern by 1.7% during the second quarter. Gilbert & Cook Inc. now owns 2,430 shares of the railroad operator’s stock worth $622,000 after acquiring an additional 41 shares during the period. 75.10% of the stock is owned by institutional investors.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy bought 1,650 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were purchased at an average price of $282.97 per share, for a total transaction of $466,900.50. Following the completion of the transaction, the director directly owned 12,000 shares of the company’s stock, valued at approximately $3,395,640. This represents a 15.94% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard H. Anderson purchased 2,600 shares of the 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 completion of the acquisition, the director directly owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. This represents a 59.09% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a report on Monday, October 27th. Loop Capital lifted their target price on Norfolk Southern from $235.00 to $278.00 and gave the stock a “hold” rating in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. BMO Capital Markets raised their price target on shares of Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Finally, Evercore ISI lifted their price objective on shares of Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $299.70.

Norfolk Southern Trading Up 0.2%

Shares of NSC stock opened at $287.49 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $302.24. The company has a market cap of $64.51 billion, a PE ratio of 21.93, a P/E/G ratio of 2.52 and a beta of 1.33. The stock’s fifty day moving average price is $286.45 and its two-hundred day moving average price is $268.50.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $3.11 billion. During the same quarter in the prior year, the company earned $3.25 earnings per share. Norfolk Southern’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors 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 yield of 1.9%. The ex-dividend date is Friday, November 7th. Norfolk Southern’s dividend payout ratio is currently 41.19%.

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.