DRW Securities LLC bought a new stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,436 shares of the railroad operator's stock, valued at approximately $605,000.
Other hedge funds have also made changes to their positions in the company. Silvercrest Asset Management Group LLC grew its holdings in Norfolk Southern by 3.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 22,144 shares of the railroad operator's stock worth $5,644,000 after buying an additional 771 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Norfolk Southern by 31.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 10,361 shares of the railroad operator's stock worth $2,641,000 after purchasing an additional 2,494 shares during the period. Tidal Investments LLC increased its stake in Norfolk Southern by 34.1% during the 1st quarter. Tidal Investments LLC now owns 11,840 shares of the railroad operator's stock valued at $3,014,000 after buying an additional 3,008 shares during the period. Comerica Bank lifted its stake in shares of Norfolk Southern by 2.8% in the 1st quarter. Comerica Bank now owns 88,099 shares of the railroad operator's stock worth $22,454,000 after acquiring an additional 2,372 shares during the period. Finally, New Covenant Trust Company N.A. bought a new position in shares of Norfolk Southern in the first quarter valued at approximately $99,000. Institutional investors own 75.10% of the company's stock.
Insiders Place Their Bets
In other news, Director Sameh Fahmy bought 1,000 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company's stock, valued at $2,550,000. The trade was a 11.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 35,045 shares of the company's stock, valued at $8,970,819.10. This trade represents a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company's stock.
Norfolk Southern Stock Down 0.3 %
Shares of NYSE:NSC traded down $0.71 during trading on Wednesday, reaching $275.38. 626,412 shares of the company traded hands, compared to its average volume of 1,250,664. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The firm has a fifty day simple moving average of $255.08 and a 200 day simple moving average of $240.63. The firm has a market cap of $62.30 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.30.
Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts' consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm's revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.65 earnings per share. Analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.
Norfolk Southern Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 1.96%. Norfolk Southern's dividend payout ratio (DPR) is currently 50.70%.
Analyst Upgrades and Downgrades
NSC has been the subject of a number of research analyst reports. Barclays upped their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. UBS Group raised their target price on Norfolk Southern from $289.00 to $309.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. TD Cowen lifted their target price on Norfolk Southern from $253.00 to $259.00 and gave the stock a "hold" rating in a report on Wednesday, October 23rd. Susquehanna upped their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Finally, Evercore ISI cut their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of "Moderate Buy" and an average target price of $275.68.
View Our Latest Stock Report on NSC
Norfolk Southern Profile
(
Free Report)
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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