Miracle Mile Advisors LLC Has $772,000 Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Miracle Mile Advisors LLC boosted its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 132.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,291 shares of the railroad operator's stock after acquiring an additional 1,875 shares during the period. Miracle Mile Advisors LLC's holdings in Norfolk Southern were worth $772,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in NSC. State Street Corp raised its position in shares of Norfolk Southern by 2.1% in the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator's stock valued at $2,318,716,000 after acquiring an additional 196,249 shares during the period. Geode Capital Management LLC raised its holdings in Norfolk Southern by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator's stock worth $1,133,828,000 after purchasing an additional 62,186 shares during the period. EdgePoint Investment Group Inc. boosted its position in shares of Norfolk Southern by 2.7% during the third quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator's stock worth $967,340,000 after purchasing an additional 103,281 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator's stock valued at $819,553,000 after buying an additional 3,280,579 shares during the period. Finally, FMR LLC increased its position in shares of Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator's stock valued at $671,532,000 after buying an additional 881,415 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Up 2.8 %

Shares of NYSE NSC traded up $6.83 during trading hours on Thursday, hitting $247.19. The company had a trading volume of 1,269,858 shares, compared to its average volume of 986,186. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The firm's 50 day moving average is $252.07 and its 200-day moving average is $246.19. The stock has a market capitalization of $55.92 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 2.11 and a beta of 1.34.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.65 EPS. On average, analysts expect that Norfolk Southern Co. will post 11.79 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.18%. Norfolk Southern's dividend payout ratio is 50.70%.

Wall Street Analyst Weigh In

NSC has been the subject of a number of research analyst reports. Evercore ISI decreased their target price on Norfolk Southern from $276.00 to $274.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. TD Cowen boosted their price objective on Norfolk Southern from $253.00 to $259.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein raised their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an "outperform" rating in a report on Wednesday, October 9th. Barclays upped their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, UBS Group raised their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $275.68.

Insider Activity

In related news, Director Sameh Fahmy bought 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 purchase, the director now owns 10,000 shares in the company, valued at $2,550,000. This represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.