Investors Buy Norfolk Southern (NSC) on Weakness

Traders bought shares of Norfolk Southern Corp. (NYSE:NSC) on weakness during trading hours on Wednesday. $95.39 million flowed into the stock on the tick-up and $55.41 million flowed out of the stock on the tick-down, for a money net flow of $39.98 million into the stock. Of all companies tracked, Norfolk Southern had the 26th highest net in-flow for the day. Norfolk Southern traded down ($1.31) for the day and closed at $150.49

Several research firms have issued reports on NSC. Stifel Nicolaus began coverage on Norfolk Southern in a report on Thursday. They set a “hold” rating and a $158.00 price objective on the stock. Sanford C. Bernstein lifted their price objective on Norfolk Southern from $149.00 to $155.00 and gave the stock a “market perform” rating in a report on Thursday, April 26th. Loop Capital lifted their price objective on Norfolk Southern to $140.00 and gave the stock a “sell” rating in a report on Thursday, April 26th. BMO Capital Markets lifted their price objective on Norfolk Southern from $156.00 to $160.00 and gave the stock a “market perform” rating in a report on Thursday, April 26th. Finally, TD Securities lifted their price objective on Norfolk Southern from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Thursday, April 26th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $146.52.

The stock has a market cap of $42.52 billion, a PE ratio of 23.15, a P/E/G ratio of 1.46 and a beta of 1.31. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.04 and a quick ratio of 0.94.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 25th. The railroad operator reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.16. Norfolk Southern had a return on equity of 14.04% and a net margin of 51.65%. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. research analysts forecast that Norfolk Southern Corp. will post 8.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Friday, May 4th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, May 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.88%. Norfolk Southern’s dividend payout ratio is currently 43.57%.

In related news, COO Michael Joseph Wheeler sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $151.33, for a total transaction of $302,660.00. Following the completion of the transaction, the chief operating officer now owns 10,207 shares in the company, valued at approximately $1,544,625.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 2,760 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $152.00, for a total value of $419,520.00. Following the transaction, the vice president now owns 2,760 shares of the company’s stock, valued at approximately $419,520. The disclosure for this sale can be found here. Insiders have sold a total of 14,110 shares of company stock valued at $2,118,405 in the last 90 days. Insiders own 0.36% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Highlander Capital Management LLC acquired a new position in Norfolk Southern during the 1st quarter worth $106,000. Arcadia Investment Management Corp MI boosted its position in Norfolk Southern by 165.1% during the 4th quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock worth $121,000 after acquiring an additional 520 shares during the period. NuWave Investment Management LLC acquired a new position in Norfolk Southern during the 1st quarter worth $124,000. Corbyn Investment Management Inc. MD acquired a new position in Norfolk Southern during the 1st quarter worth $130,000. Finally, Certified Advisory Corp acquired a new position in Norfolk Southern during the 4th quarter worth $137,000. Institutional investors and hedge funds own 73.01% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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