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HWG Holdings LP Acquires Shares of 146 Norfolk Southern Co. (NYSE:NSC)

Financial News Live · Feb 6, 2023 11:42

HWG Holdings LP acquired a new stake in Norfolk Southern Co. (NYSE:NSC – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 146 shares of the railroad operator's stock, valued at approximately $31,000.

Other hedge funds have also modified their holdings of the company. Worth Asset Management LLC acquired a new stake in shares of Norfolk Southern in the 1st quarter valued at approximately $30,000. Adirondack Trust Co. acquired a new stake in shares of Norfolk Southern in the third quarter valued at about $31,000. Newfound Research LLC acquired a new stake in Norfolk Southern during the 3rd quarter valued at $39,000. Insight Inv LLC bought a new position in shares of Norfolk Southern during the second quarter worth about $45,000. Finally, Hallmark Capital Management Inc. acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at about $46,000. 72.98% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, Director James A. Squires sold 21,272 shares of the business's stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $245.76, for a total value of $5,227,806.72. Following the sale, the director now directly owns 1,001 shares in the company, valued at $246,005.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Norfolk Southern news, Director James A. Squires sold 21,272 shares of the company's stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $245.76, for a total transaction of $5,227,806.72. Following the completion of the transaction, the director now owns 1,001 shares of the company's stock, valued at approximately $246,005.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Alan H. Shaw sold 2,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $258.35, for a total transaction of $516,700.00. Following the completion of the sale, the chief executive officer now owns 30,158 shares in the company, valued at $7,791,319.30. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.

Norfolk Southern Trading Down 2.0 %

NYSE NSC traded down $5.14 on Monday, reaching $246.98. The company had a trading volume of 224,204 shares, compared to its average volume of 1,281,092. Norfolk Southern Co. has a 52 week low of $203.65 and a 52 week high of $291.55. The stock's 50 day moving average is $249.94 and its 200-day moving average is $241.84. The company has a quick ratio of 0.66, a current ratio of 0.76 and a debt-to-equity ratio of 1.14. The stock has a market cap of $57.18 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 2.18 and a beta of 1.30.

Norfolk Southern (NYSE:NSC – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The railroad operator reported $3.42 earnings per share for the quarter, beating analysts' consensus estimates of $3.41 by $0.01. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.20 billion. Norfolk Southern had a net margin of 25.66% and a return on equity of 24.98%. Norfolk Southern's revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the company posted $3.12 EPS. Equities analysts predict that Norfolk Southern Co. will post 13.68 earnings per share for the current year.

Norfolk Southern Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 21st. Stockholders of record on Friday, February 3rd will be given a dividend of $1.35 per share. This is an increase from Norfolk Southern's previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Thursday, February 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.19%. Norfolk Southern's dividend payout ratio is currently 38.85%.

Analyst Ratings Changes

NSC has been the subject of a number of recent analyst reports. Barclays increased their price objective on Norfolk Southern from $240.00 to $255.00 in a report on Monday, December 5th. Benchmark cut their price target on shares of Norfolk Southern from $280.00 to $270.00 and set a "buy" rating for the company in a report on Thursday, January 26th. Credit Suisse Group cut their price objective on Norfolk Southern from $285.00 to $275.00 and set an "outperform" rating for the company in a research report on Thursday, January 26th. Cowen upped their target price on Norfolk Southern from $256.00 to $259.00 and gave the company an "outperform" rating in a report on Thursday, January 26th. Finally, The Goldman Sachs Group boosted their price objective on shares of Norfolk Southern from $261.00 to $266.00 in a research report on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Norfolk Southern presently has an average rating of "Hold" and an average price target of $248.86.

About Norfolk Southern

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Norfolk Southern Corp. is a transportation company, which owns a freight railroad. It engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers to and from the rest of the United States.