Natixis Advisors LLC increased its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 286,411 shares of the railroad operator's stock after purchasing an additional 27,561 shares during the quarter. Natixis Advisors LLC owned approximately 0.13% of Norfolk Southern worth $71,173,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern in the third quarter worth about $25,000. Cedar Wealth Management LLC acquired a new position in shares of Norfolk Southern during the 1st quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Norfolk Southern during the 2nd quarter worth about $27,000. Financial Connections Group Inc. acquired a new position in shares of Norfolk Southern during the 2nd quarter worth about $31,000. Finally, HWG Holdings LP acquired a new position in shares of Norfolk Southern during the 2nd quarter worth about $31,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.
Norfolk Southern Stock Down 1.3 %
NYSE NSC traded down $3.50 during trading on Friday, hitting $261.26. The stock had a trading volume of 1,152,740 shares, compared to its average volume of 1,301,508. The company has a market capitalization of $59.11 billion, a PE ratio of 24.53, a P/E/G ratio of 2.48 and a beta of 1.30. The company's 50-day moving average price is $252.99 and its two-hundred day moving average price is $238.84. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern Co. has a 12 month low of $205.70 and a 12 month high of $277.60.
Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results 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 for 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 quarter in the previous year, the firm earned $2.65 EPS. As a group, sell-side analysts forecast 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 will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern's dividend payout ratio (DPR) is 50.70%.
Insiders Place Their Bets
In related news, CEO Alan H. Shaw sold 51,325 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was 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 directly owns 35,045 shares of the company's stock, valued at approximately $8,970,819.10. The trade was a 59.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sameh Fahmy bought 1,000 shares of the firm's stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $2,550,000. The trade was a 11.11 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.
Wall Street Analyst Weigh In
NSC has been the subject of several analyst reports. Barclays boosted 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. JPMorgan Chase & Co. boosted their target price on Norfolk Southern from $283.00 to $288.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Bank of America boosted their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Susquehanna lifted their price objective on Norfolk Southern from $280.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group lifted their price objective on Norfolk Southern from $275.00 to $280.00 and gave the company a "buy" rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Norfolk Southern currently has an average rating of "Moderate Buy" and a consensus target price of $275.68.
View Our Latest Stock Report on Norfolk Southern
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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