BKM Wealth Management LLC Acquires 599 Shares of Norfolk Southern Co. (NYSE:NSC)

BKM Wealth Management LLC raised its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 10.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,318 shares of the railroad operator’s stock after purchasing an additional 599 shares during the period. BKM Wealth Management LLC’s holdings in Norfolk Southern were worth $1,610,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aviance Capital Partners LLC purchased a new stake in shares of Norfolk Southern during the first quarter valued at approximately $203,000. LVW Advisors LLC purchased a new stake in shares of Norfolk Southern during the first quarter valued at approximately $205,000. Roberts Wealth Advisors LLC purchased a new stake in shares of Norfolk Southern during the first quarter valued at approximately $565,000. River Street Advisors LLC grew its holdings in shares of Norfolk Southern by 2.5% during the first quarter. River Street Advisors LLC now owns 3,681 shares of the railroad operator’s stock valued at $938,000 after buying an additional 90 shares during the last quarter. Finally, CRA Financial Services LLC purchased a new stake in shares of Norfolk Southern during the first quarter valued at approximately $207,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC traded down $1.55 during mid-day trading on Monday, hitting $213.14. 281,477 shares of the company’s stock traded hands, compared to its average volume of 1,324,886. The company’s 50-day moving average is $227.10 and its two-hundred day moving average is $239.01. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. The company has a market capitalization of $48.15 billion, a P/E ratio of 34.24, a PEG ratio of 2.03 and a beta of 1.32. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.09). The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.32 earnings per share. On average, equities analysts anticipate that Norfolk Southern Co. will post 11.88 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.53%. Norfolk Southern’s payout ratio is 86.96%.

Insider Activity at Norfolk Southern

In related news, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sameh Fahmy bought 2,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was bought at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays cut their price target on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. UBS Group dropped their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Jefferies Financial Group started coverage on shares of Norfolk Southern in a report on Monday, April 8th. They issued a “buy” rating and a $300.00 target price on the stock. Finally, Royal Bank of Canada upgraded shares of Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 target price on the stock in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $262.89.

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.