IFM Investors Pty Ltd Grows Position in Norfolk Southern Co. (NYSE:NSC)

IFM Investors Pty Ltd lifted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 19.2% in the third quarter, Holdings Channel reports. The firm owned 67,561 shares of the railroad operator’s stock after purchasing an additional 10,890 shares during the period. IFM Investors Pty Ltd’s holdings in Norfolk Southern were worth $16,789,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NSC. Wealthcare Advisory Partners LLC raised its holdings in shares of Norfolk Southern by 72.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,900 shares of the railroad operator’s stock valued at $739,000 after buying an additional 1,221 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Norfolk Southern by 6.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,527 shares of the railroad operator’s stock worth $10,584,000 after purchasing an additional 2,483 shares in the last quarter. Sunburst Financial Group LLC boosted its stake in shares of Norfolk Southern by 16.4% in the first quarter. Sunburst Financial Group LLC now owns 1,063 shares of the railroad operator’s stock valued at $268,000 after purchasing an additional 150 shares during the period. Indiana Trust & Investment Management CO grew its holdings in Norfolk Southern by 3.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock valued at $376,000 after purchasing an additional 43 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new position in Norfolk Southern in the 1st quarter worth $56,144,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Down 1.7 %

Shares of NSC traded down $4.32 during trading hours on Thursday, reaching $252.66. The company’s stock had a trading volume of 525,330 shares, compared to its average volume of 1,256,359. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The firm has a market cap of $57.08 billion, a price-to-earnings ratio of 41.38, a P/E/G ratio of 2.33 and a beta of 1.31. The company has a 50 day moving average of $248.76 and a two-hundred day moving average of $236.88. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business earned $2.65 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Norfolk Southern Co. will post 11.79 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.14%. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NSC shares. Sanford C. Bernstein lifted their target price on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Citigroup lifted their price objective on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday. Stephens reiterated an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a research note on Wednesday. Benchmark lifted their price target on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $274.16.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy acquired 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Sameh Fahmy purchased 700 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, the director now owns 7,700 shares in the company, valued at $1,887,655. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.