Accredited Investors Inc. Grows Position in Norfolk Southern Co. (NYSE:NSC)

Accredited Investors Inc. lifted its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 28,892.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 293,406 shares of the railroad operator's stock after purchasing an additional 292,394 shares during the quarter. Norfolk Southern comprises approximately 1.8% of Accredited Investors Inc.'s investment portfolio, making the stock its 11th biggest position. Accredited Investors Inc. owned 0.13% of Norfolk Southern worth $72,911,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NSC. Aptus Capital Advisors LLC boosted its holdings in Norfolk Southern by 21.0% during the 3rd quarter. Aptus Capital Advisors LLC now owns 6,037 shares of the railroad operator's stock valued at $1,500,000 after acquiring an additional 1,047 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in Norfolk Southern by 42.6% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,188 shares of the railroad operator's stock valued at $792,000 after acquiring an additional 953 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings 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 acquiring an additional 3,621 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Norfolk Southern by 17.2% in the 3rd quarter. GSA Capital Partners LLP now owns 2,639 shares of the railroad operator's stock valued at $656,000 after buying an additional 388 shares during the period. Finally, Harbour Investments Inc. boosted its stake in shares of Norfolk Southern by 17.3% in the 3rd quarter. Harbour Investments Inc. now owns 2,377 shares of the railroad operator's stock valued at $591,000 after buying an additional 350 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 cost of $255.00 per share, with a total value 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 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction dated 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 in the company, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $2,550,000. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NSC. TD Cowen lifted their price objective on Norfolk Southern from $253.00 to $259.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. Evercore ISI decreased their price objective 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. Citigroup lifted their price objective on Norfolk Southern from $302.00 to $316.00 and gave the company a "buy" rating in a research note on Tuesday. Sanford C. Bernstein lifted their price objective on Norfolk Southern from $285.00 to $286.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. Finally, Loop Capital lifted their price objective on Norfolk Southern from $285.00 to $287.00 and gave the company a "buy" rating in a research note 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 issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $274.89.

Norfolk Southern Price Performance

NSC traded down $3.66 during trading on Tuesday, reaching $267.45. 1,113,284 shares of the stock were exchanged, compared to its average volume of 1,259,054. The business's 50 day moving average price is $252.07 and its two-hundred day moving average price is $238.05. 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 $60.51 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 2.58 and a beta of 1.30. Norfolk Southern Co. has a 1 year low of $195.76 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results 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 company 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%. Norfolk Southern's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.65 earnings per share. As a group, equities research analysts anticipate that Norfolk Southern Co. will post 11.81 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.02%. Norfolk Southern's payout ratio is 50.70%.

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.