EP Wealth Advisors LLC Increases Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

EP Wealth Advisors LLC increased its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 41.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,631 shares of the railroad operator's stock after purchasing an additional 2,247 shares during the period. EP Wealth Advisors LLC's holdings in Norfolk Southern were worth $1,896,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lake Street Advisors Group LLC raised its stake in shares of 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 worth $563,000 after purchasing an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. lifted its stake in Norfolk Southern by 2.8% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator's stock valued at $325,000 after acquiring an additional 42 shares during the period. Blue Chip Partners LLC grew its position in Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator's stock worth $1,656,000 after purchasing an additional 42 shares during the period. Stephens Consulting LLC raised its stake in Norfolk Southern by 12.4% during the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator's stock valued at $82,000 after buying an additional 42 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its holdings in shares of Norfolk Southern by 4.2% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator's stock valued at $256,000 after buying an additional 42 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NYSE:NSC traded down $0.76 during trading on Tuesday, hitting $256.08. 1,379,874 shares of the company's stock were exchanged, compared to its average volume of 1,240,717. The business's 50-day simple moving average is $258.96 and its 200 day simple moving average is $243.10. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The company has a market cap of $57.94 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.47 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the firm posted $2.65 EPS. The company's revenue was up 3.3% on a year-over-year basis. As a group, equities analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.11%. The ex-dividend date was Friday, November 1st. Norfolk Southern's payout ratio is currently 50.70%.

Wall Street Analysts Forecast Growth

NSC has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective 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 boosted their price target on Norfolk Southern from $253.00 to $259.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. Susquehanna increased their price objective on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Citigroup raised their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Bank of America upped their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a "buy" rating in a 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 given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $275.68.

Insider Buying and Selling at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 59.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy acquired 1,000 shares of the stock in a transaction on Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, with a total value of $255,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

About Norfolk Southern

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.