Kingswood Wealth Advisors LLC Makes New $472,000 Investment in Norfolk Southern Co. (NYSE:NSC)

Kingswood Wealth Advisors LLC acquired a new stake in Norfolk Southern Co. (NYSE:NSC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,200 shares of the railroad operator’s stock, valued at approximately $472,000.

A number of other large investors have also made changes to their positions in the stock. Cedar Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the 1st quarter worth about $27,000. Rise Advisors LLC purchased a new stake in Norfolk Southern in the 1st quarter worth approximately $34,000. Turtle Creek Wealth Advisors LLC acquired a new position in Norfolk Southern in the 4th quarter valued at $32,000. Financial Connections Group Inc. purchased a new position in shares of Norfolk Southern during the 4th quarter worth $34,000. Finally, Rational Advisors LLC acquired a new stake in shares of Norfolk Southern during the first quarter worth $40,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Claude Mongeau bought 5,650 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average price of $221.00 per share, for a total transaction of $1,248,650.00. Following the purchase, the director now owns 20,000 shares in the company, valued at approximately $4,420,000. The disclosure for this purchase can be found here. Insiders acquired a total of 10,350 shares of company stock worth $2,353,715 in the last 90 days. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Loop Capital upped their price objective on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Barclays decreased their target price 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. Benchmark upped their price target on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company increased their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.24.

Norfolk Southern Stock Down 1.6 %

NYSE:NSC traded down $3.87 during trading hours on Wednesday, hitting $239.98. The stock had a trading volume of 905,606 shares, compared to its average volume of 1,311,689. The business has a 50 day simple moving average of $225.26 and a two-hundred day simple moving average of $238.40. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The company has a market cap of $54.21 billion, a PE ratio of 39.40, a price-to-earnings-growth ratio of 2.41 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 EPS. Analysts predict that Norfolk Southern Co. will post 11.78 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 2nd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, August 2nd. Norfolk Southern’s dividend payout ratio is currently 86.96%.

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.