M. Kraus & Co Has $10.46 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

M. Kraus & Co grew its holdings in Norfolk Southern Co. (NYSE:NSCGet Rating) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,040 shares of the railroad operator’s stock after acquiring an additional 85 shares during the period. Norfolk Southern accounts for approximately 4.0% of M. Kraus & Co’s holdings, making the stock its 7th largest position. M. Kraus & Co’s holdings in Norfolk Southern were worth $10,464,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Home Federal Bank of Tennessee boosted its holdings in shares of Norfolk Southern by 1.3% during the 2nd quarter. Home Federal Bank of Tennessee now owns 9,599 shares of the railroad operator’s stock worth $2,182,000 after buying an additional 120 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Norfolk Southern by 2.3% during the 2nd quarter. HB Wealth Management LLC now owns 10,448 shares of the railroad operator’s stock worth $2,375,000 after buying an additional 235 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of Norfolk Southern by 4.8% during the 2nd quarter. Raymond James Trust N.A. now owns 14,206 shares of the railroad operator’s stock worth $3,229,000 after buying an additional 650 shares during the period. Pittenger & Anderson Inc. boosted its holdings in shares of Norfolk Southern by 1.4% during the 2nd quarter. Pittenger & Anderson Inc. now owns 46,135 shares of the railroad operator’s stock worth $10,486,000 after buying an additional 643 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services boosted its holdings in shares of Norfolk Southern by 2.6% during the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 9,970 shares of the railroad operator’s stock worth $2,266,000 after buying an additional 252 shares during the period. 73.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Norfolk Southern news, Director James A. Squires sold 105,420 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $248.81, for a total transaction of $26,229,550.20. Following the sale, the director now owns 42,728 shares of the company’s stock, valued at approximately $10,631,153.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock traded down $8.49 during mid-day trading on Friday, reaching $216.22. 57,916 shares of the stock were exchanged, compared to its average volume of 1,340,052. The company has a market cap of $50.78 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.78 and a beta of 1.32. The company has a current ratio of 1.10, a quick ratio of 0.98 and a debt-to-equity ratio of 1.10. The firm has a 50-day simple moving average of $246.36 and a 200 day simple moving average of $248.37. Norfolk Southern Co. has a fifty-two week low of $217.00 and a fifty-two week high of $299.20.

Norfolk Southern (NYSE:NSCGet Rating) last announced its earnings results on Wednesday, July 27th. The railroad operator reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.01. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Norfolk Southern had a net margin of 25.57% and a return on equity of 22.42%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the company posted $3.28 EPS. On average, sell-side analysts predict that Norfolk Southern Co. will post 13.69 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, August 20th. Shareholders of record on Monday, August 8th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, August 5th. Norfolk Southern’s dividend payout ratio is currently 39.49%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Norfolk Southern from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $306.00 to $258.00 in a report on Tuesday, July 12th. Cowen reduced their price target on shares of Norfolk Southern from $331.00 to $316.00 in a report on Thursday, July 28th. Barclays reduced their price target on shares of Norfolk Southern from $300.00 to $255.00 and set an “equal weight” rating for the company in a report on Tuesday, June 14th. Susquehanna reduced their price target on shares of Norfolk Southern from $350.00 to $275.00 in a report on Wednesday, July 6th. Finally, Wells Fargo & Company reduced their price target on shares of Norfolk Southern from $340.00 to $274.00 and set an “overweight” rating for the company in a report on Friday, July 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.10.

Norfolk Southern Company Profile

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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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

Further Reading

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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