836,340 Shares in Norfolk Southern Co. (NYSE:NSC) Purchased by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 836,340 shares of the railroad operator's stock, valued at approximately $207,830,000. Hotchkis & Wiley Capital Management LLC owned 0.37% of Norfolk Southern at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Norfolk Southern by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator's stock valued at $3,556,000 after acquiring an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Norfolk Southern by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator's stock valued at $132,565,000 after purchasing an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator's stock valued at $222,025,000 after purchasing an additional 889,925 shares in the last quarter. Seven Eight Capital LP bought a new stake in Norfolk Southern during the 2nd quarter valued at about $1,676,000. Finally, Dakota Wealth Management increased its stake in Norfolk Southern by 2.1% during the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator's stock valued at $1,791,000 after purchasing an additional 150 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NSC stock traded down $2.63 during mid-day trading on Tuesday, hitting $270.12. The company had a trading volume of 754,115 shares, compared to its average volume of 1,245,028. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The stock's 50 day moving average price is $256.63 and its 200-day moving average price is $241.57. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The company has a market capitalization of $61.11 billion, a P/E ratio of 25.37, a P/E/G ratio of 2.59 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the firm earned $2.65 earnings per share. The company's quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, November 1st. Norfolk Southern's dividend payout ratio is presently 50.70%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. TD Cowen raised 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. Bank of America raised their price objective on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Evercore ISI reduced their price target 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. Jefferies Financial Group lifted their price target on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Finally, Susquehanna lifted their price target 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $275.68.

Insider Buying and Selling

In other Norfolk Southern 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 transaction of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 59.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sameh Fahmy purchased 1,000 shares of the business's stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company's stock, valued at approximately $2,550,000. The trade was a 11.11 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

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.