Norfolk Southern Co. (NYSE:NSC) Shares Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 18,831.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,298,000 shares of the railroad operator's stock after purchasing an additional 3,280,579 shares during the period. Norfolk Southern accounts for 2.1% of Mizuho Securities USA LLC's holdings, making the stock its 12th biggest holding. Mizuho Securities USA LLC owned about 1.46% of Norfolk Southern worth $819,553,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Norfolk Southern by 20.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator's stock valued at $3,556,000 after purchasing an additional 2,453 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Norfolk Southern by 0.7% in the third 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 in the last quarter. Pathway Financial Advisers LLC boosted its stake in Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator's stock valued at $222,025,000 after acquiring an additional 889,925 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Norfolk Southern in the second quarter valued at approximately $1,676,000. Finally, Dakota Wealth Management boosted its stake in Norfolk Southern by 2.1% in the third quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator's stock valued at $1,791,000 after acquiring an additional 150 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy bought 1,000 shares of the business's stock in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the company'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 sale, the chief executive officer now directly 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 disclosure for this sale 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 recent analyst reports. Citigroup raised their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a "buy" rating in a research note on Tuesday. Stifel Nicolaus raised their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a "hold" rating in a report on Friday, October 11th. Wells Fargo & Company raised their target price on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Susquehanna lifted their price objective on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $275.68.

Norfolk Southern Trading Down 1.3 %

Shares of Norfolk Southern stock traded down $3.50 on Friday, reaching $261.26. The company had a trading volume of 1,152,740 shares, compared to its average volume of 1,256,220. The firm's 50 day moving average price is $252.99 and its two-hundred day moving average price is $238.78. The firm has a market cap of $59.11 billion, a PE ratio of 24.53, a PEG ratio of 2.55 and a beta of 1.30. Norfolk Southern Co. has a 52-week low of $205.70 and a 52-week high of $277.60. 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 (NYSE:NSC - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $3.10 billion for 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 business's revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.65 EPS. Sell-side analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, November 1st. Norfolk Southern's dividend payout ratio (DPR) is 50.70%.

Norfolk Southern Company 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.