Edge Capital Group LLC Boosts Stake in Norfolk Southern Co. (NYSE:NSC)

Edge Capital Group LLC lifted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 15.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,155 shares of the railroad operator’s stock after buying an additional 5,904 shares during the period. Edge Capital Group LLC’s holdings in Norfolk Southern were worth $9,694,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Cedar Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the 1st quarter valued at about $27,000. 1620 Investment Advisors Inc. purchased a new stake in Norfolk Southern in the second quarter worth approximately $27,000. Financial Connections Group Inc. purchased a new stake in Norfolk Southern in the second quarter worth approximately $31,000. Rise Advisors LLC bought a new stake in Norfolk Southern in the 1st quarter worth approximately $34,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Norfolk Southern in the 2nd quarter worth $34,000. 75.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on NSC. TD Cowen upped their price objective on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Sanford C. Bernstein lowered their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Morgan Stanley reissued an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a report on Monday, July 8th. Royal Bank of Canada reduced their target price on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Benchmark lifted 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $264.24.

Norfolk Southern Price Performance

NSC stock opened at $247.86 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The company’s fifty day moving average price is $243.51 and its 200-day moving average price is $237.85. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The company has a market capitalization of $56.00 billion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping 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 analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the company earned $2.95 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Norfolk Southern Co. will post 11.8 EPS for the current fiscal 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 2.18%. The ex-dividend date was Friday, August 2nd. Norfolk Southern’s dividend payout ratio is presently 86.96%.

Insiders Place Their Bets

In other news, Director Richard H. Anderson bought 2,000 shares of the stock in a transaction dated Monday, July 29th. The stock was purchased at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at $742,440. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Norfolk Southern news, Director Sameh Fahmy bought 700 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the transaction, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard H. Anderson acquired 2,000 shares of Norfolk Southern stock in a transaction on Monday, July 29th. The shares were bought at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at $742,440. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

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.