Norfolk Southern Co. (NYSE:NSC) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC boosted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 4,562.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,865 shares of the railroad operator’s stock after purchasing an additional 1,825 shares during the period. Larson Financial Group LLC’s holdings in Norfolk Southern were worth $400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC grew its position in Norfolk Southern by 67.4% in the second quarter. Foundations Investment Advisors LLC now owns 3,011 shares of the railroad operator’s stock worth $646,000 after acquiring an additional 1,212 shares during the period. Archer Investment Corp lifted its stake in shares of Norfolk Southern by 46.5% in the 2nd quarter. Archer Investment Corp now owns 1,891 shares of the railroad operator’s stock valued at $406,000 after purchasing an additional 600 shares during the last quarter. Founders Financial Securities LLC purchased a new position in shares of Norfolk Southern during the 2nd quarter worth $267,000. Oregon Public Employees Retirement Fund increased its position in shares of Norfolk Southern by 0.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,394 shares of the railroad operator’s stock worth $4,164,000 after purchasing an additional 70 shares during the last quarter. Finally, Capital Square LLC raised its holdings in Norfolk Southern by 0.9% in the 2nd quarter. Capital Square LLC now owns 5,326 shares of the railroad operator’s stock valued at $1,215,000 after buying an additional 47 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 2.7 %

NSC opened at $252.76 on Friday. The business’s 50-day simple moving average is $235.85 and its 200-day simple moving average is $238.32. The stock has a market capitalization of $57.10 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.32. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the firm posted $2.95 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts anticipate that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were issued 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 2.14%. Norfolk Southern’s payout ratio is 86.96%.

Analyst Upgrades and Downgrades

NSC has been the subject of several research analyst reports. Susquehanna increased their target price on shares of Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Benchmark boosted their target price on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Barclays lowered their price target on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Finally, Sanford C. Bernstein cut their price objective on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus price target of $264.24.

Insider Buying and Selling

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the company’s 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 transaction, the executive vice president now owns 1,488 shares in the company, valued at approximately $371,077.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Sameh Fahmy purchased 700 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was 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 owns 1,488 shares in the company, valued at $371,077.44. The disclosure for this sale can be found here. Insiders purchased a total of 4,700 shares of company stock valued at $1,105,065 over the last three months. 0.19% of the stock is currently 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.