Dillon & Associates Inc. grew its holdings in Norfolk Southern Co. (NYSE:NSC – Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,006 shares of the railroad operator’s stock after acquiring an additional 406 shares during the period. Norfolk Southern comprises approximately 1.6% of Dillon & Associates Inc.’s portfolio, making the stock its 22nd largest position. Dillon & Associates Inc.’s holdings in Norfolk Southern were worth $11,409,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lake Street Advisors Group LLC grew its position in Norfolk Southern by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after acquiring an additional 41 shares in the last quarter. Hall Capital Management Co. Inc. increased its stake in Norfolk Southern by 2.8% during the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after purchasing an additional 42 shares during the last quarter. Blue Chip Partners LLC grew its position in shares of Norfolk Southern by 0.5% during the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after buying an additional 42 shares during the last quarter. Stephens Consulting LLC raised its stake in Norfolk Southern by 12.4% during the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after acquiring an additional 42 shares during the period. Finally, Foster Victor Wealth Advisors LLC boosted its stake in Norfolk Southern by 4.2% in the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after acquiring an additional 42 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently weighed in on NSC shares. Loop Capital increased their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. TD Cowen upped their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Stephens reiterated an “equal weight” rating and issued a $263.00 target price on shares of Norfolk Southern in a research report on Wednesday, October 23rd. Finally, Barclays boosted their target price on shares of Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $274.89.
Insider Activity at Norfolk Southern
In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Norfolk Southern Stock Down 1.4 %
Shares of NYSE:NSC opened at $267.45 on Wednesday. The company has a market capitalization of $60.51 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.57 and a beta of 1.30. Norfolk Southern Co. has a 52-week low of $195.76 and a 52-week high of $277.60. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The company has a fifty day moving average of $252.07 and a 200-day moving average of $238.05.
Norfolk Southern (NYSE:NSC – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $2.65 EPS. On average, equities analysts predict that Norfolk Southern Co. will post 11.81 EPS for the current fiscal year.
Norfolk Southern Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.02%. Norfolk Southern’s dividend payout ratio is currently 50.70%.
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.
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