161 Shares in Norfolk Southern Co. (NYSE:NSC) Acquired by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC bought a new position in shares of Norfolk Southern Co. (NYSE:NSC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 161 shares of the railroad operator’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Raleigh Capital Management Inc. grew its stake 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 in the last quarter. MCF Advisors LLC raised its holdings in Norfolk Southern by 4.2% in the 4th quarter. MCF Advisors LLC now owns 1,016 shares of the railroad operator’s stock worth $240,000 after purchasing an additional 41 shares in the last quarter. Fiduciary Group LLC raised its holdings in Norfolk Southern by 0.4% in the 4th quarter. Fiduciary Group LLC now owns 9,986 shares of the railroad operator’s stock worth $2,360,000 after purchasing an additional 41 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Norfolk Southern by 2.6% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock worth $397,000 after purchasing an additional 43 shares in the last quarter. Finally, Indiana Trust & Investment Management CO raised its holdings in 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 in the last quarter. Institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In other news, Director Claude Mongeau purchased 5,650 shares of the stock in a transaction on Wednesday, May 29th. The shares were acquired at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $4,420,000. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Claude Mongeau bought 5,650 shares of the stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $4,420,000. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard H. Anderson bought 2,000 shares of the stock in a transaction dated Monday, July 29th. The stock was bought at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $742,440. The disclosure for this purchase can be found here. Insiders have bought 10,350 shares of company stock valued at $2,353,715 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Stock Performance

NYSE NSC traded up $0.84 during trading hours on Wednesday, hitting $241.61. 175,291 shares of the company’s stock traded hands, compared to its average volume of 1,273,697. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The firm has a market capitalization of $54.58 billion, a P/E ratio of 38.75, a P/E/G ratio of 2.41 and a beta of 1.32. The business’s fifty day moving average price is $228.70 and its two-hundred day moving average price is $238.37.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.04 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts predict that Norfolk Southern Co. will post 11.78 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.24%. The ex-dividend date was Friday, August 2nd. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Wall Street Analyst Weigh In

Several research analysts have commented on NSC shares. Morgan Stanley restated an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a report on Monday, July 8th. Sanford C. Bernstein decreased their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Benchmark upped their price objective on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Barclays cut their price objective on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Finally, Stifel Nicolaus increased their price objective on shares of Norfolk Southern from $239.00 to $241.00 and gave the company a “hold” rating in a research report on Friday, July 26th. 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $264.24.

Norfolk Southern Company 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.