Tenere Capital LLC Grows Stock Position in Norfolk Southern Co. (NYSE:NSC)

Tenere Capital LLC grew its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,196 shares of the railroad operator's stock after buying an additional 2,450 shares during the quarter. Norfolk Southern makes up 3.1% of Tenere Capital LLC's portfolio, making the stock its 19th largest position. Tenere Capital LLC's holdings in Norfolk Southern were worth $11,728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NSC. Mirae Asset Global Investments Co. Ltd. raised its holdings in Norfolk Southern by 20.5% in 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. raised its holdings in Norfolk Southern by 0.7% in 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. Pathway Financial Advisers LLC raised its holdings in Norfolk Southern by 25,181.8% in the 3rd 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 during the period. Seven Eight Capital LP bought a new position in Norfolk Southern in the 2nd quarter valued at about $1,676,000. Finally, Dakota Wealth Management grew its position in shares of Norfolk Southern by 2.1% during the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator's stock worth $1,791,000 after purchasing an additional 150 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Jefferies Financial Group increased their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Loop Capital increased their target price on shares of Norfolk Southern from $285.00 to $287.00 and gave the stock a "buy" rating in a research report 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 on the stock in a research report on Wednesday, October 23rd. Finally, Bank of America increased their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. One 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. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of "Moderate Buy" and an average price target of $275.68.

Insider Activity

In related news, CEO Alan H. Shaw sold 51,325 shares of the firm's 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 completion of the sale, the chief executive officer now directly owns 35,045 shares of the company's stock, valued at approximately $8,970,819.10. This trade represents a 59.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sameh Fahmy bought 1,000 shares of the company's stock in a transaction on Thursday, October 24th. The stock was purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $2,550,000. This represents a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

Norfolk Southern Stock Down 1.2 %

Shares of NSC stock traded down $3.22 during trading hours on Friday, reaching $260.78. 754,547 shares of the company's stock were exchanged, compared to its average volume of 1,004,847. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The stock has a market cap of $59.00 billion, a PE ratio of 24.49, a PEG ratio of 2.54 and a beta of 1.31. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The stock's fifty day moving average price is $258.80 and its two-hundred day moving average price is $242.88.

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

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.07%. 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.