Eagle Asset Management Inc. Grows Stock Position in Norfolk Southern Corp. (NYSE:NSC)

Eagle Asset Management Inc. lifted its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 14.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,701 shares of the railroad operator’s stock after buying an additional 610 shares during the quarter. Eagle Asset Management Inc.’s holdings in Norfolk Southern were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in Norfolk Southern by 230.6% in the third quarter. First Trust Advisors LP now owns 322,665 shares of the railroad operator’s stock valued at $57,970,000 after purchasing an additional 225,069 shares during the last quarter. Unigestion Holding SA acquired a new stake in Norfolk Southern in the third quarter valued at $233,000. Haverford Trust Co. grew its holdings in Norfolk Southern by 0.6% in the third quarter. Haverford Trust Co. now owns 17,360 shares of the railroad operator’s stock valued at $3,119,000 after purchasing an additional 95 shares during the last quarter. Haverford Financial Services Inc. grew its holdings in Norfolk Southern by 53.3% in the third quarter. Haverford Financial Services Inc. now owns 2,300 shares of the railroad operator’s stock valued at $413,000 after purchasing an additional 800 shares during the last quarter. Finally, Bartlett & Co. LLC grew its holdings in Norfolk Southern by 0.4% in the third quarter. Bartlett & Co. LLC now owns 95,802 shares of the railroad operator’s stock valued at $17,212,000 after purchasing an additional 385 shares during the last quarter. Institutional investors and hedge funds own 72.97% of the company’s stock.

NSC has been the topic of several research reports. ValuEngine raised Norfolk Southern from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. UBS Group lowered their target price on Norfolk Southern from $230.00 to $216.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Cowen reissued a “buy” rating and issued a $215.00 target price on shares of Norfolk Southern in a report on Wednesday, October 23rd. Cascend Securities lowered Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, BMO Capital Markets lowered their target price on Norfolk Southern from $200.00 to $195.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $204.29.

NSC opened at $190.26 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 0.73. The firm has a market cap of $50.58 billion, a P/E ratio of 20.01, a PEG ratio of 1.94 and a beta of 1.37. Norfolk Southern Corp. has a 52 week low of $138.65 and a 52 week high of $211.46. The business’s fifty day simple moving average is $183.01 and its 200 day simple moving average is $189.04.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, October 23rd. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.08). Norfolk Southern had a net margin of 23.98% and a return on equity of 18.22%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the previous year, the business earned $2.52 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that Norfolk Southern Corp. will post 10.23 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 1st will be given a dividend of $0.94 per share. The ex-dividend date is Thursday, October 31st. This represents a $3.76 annualized dividend and a yield of 1.98%. Norfolk Southern’s dividend payout ratio (DPR) is presently 39.54%.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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