Heritage Wealth Management Inc. Makes New $662,000 Investment in Norfolk Southern Co. (NYSE:NSC)

Heritage Wealth Management Inc. acquired a new stake in shares of Norfolk Southern Co. (NYSE:NSC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,066 shares of the railroad operator’s stock, valued at approximately $662,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Raleigh Capital Management Inc. lifted its holdings in Norfolk Southern by 4.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock worth $226,000 after buying an additional 40 shares during the period. Hall Capital Management Co. Inc. boosted its holdings in Norfolk Southern by 2.8% in the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after acquiring an additional 42 shares in the last quarter. Blue Chip Partners LLC increased its position in Norfolk Southern by 0.5% during the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after purchasing an additional 42 shares during the period. Stephens Consulting LLC raised its holdings in Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after purchasing an additional 42 shares in the last quarter. Finally, Indiana Trust & Investment Management CO lifted its position in shares of Norfolk Southern by 3.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock worth $376,000 after purchasing an additional 43 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC opened at $247.03 on Thursday. The company has a market capitalization of $55.81 billion, a P/E ratio of 39.78, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $246.35 and a 200 day moving average of $237.19.

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

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Friday, August 2nd. Norfolk Southern’s payout ratio is presently 86.96%.

Insider Transactions at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Norfolk Southern news, Director Sameh Fahmy purchased 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Benchmark increased their price target on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Evercore ISI increased their target price on Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their price target on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Susquehanna increased their price objective on Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, TD Cowen boosted their target price on shares of Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.56.

Norfolk Southern 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.