Wellington Management Group LLP Acquires 5,032 Shares of Norfolk Southern Co. (NYSE:NSC)

Wellington Management Group LLP boosted its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 27.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,062 shares of the railroad operator's stock after purchasing an additional 5,032 shares during the quarter. Wellington Management Group LLP's holdings in Norfolk Southern were worth $5,731,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Highline Wealth Partners LLC purchased a new position in Norfolk Southern during the 3rd quarter worth $25,000. 1620 Investment Advisors Inc. bought a new stake in Norfolk Southern in the 2nd quarter worth about $27,000. Morse Asset Management Inc purchased a new stake in Norfolk Southern in the 3rd quarter valued at about $30,000. Financial Connections Group Inc. bought a new position in shares of Norfolk Southern during the 2nd quarter worth approximately $31,000. Finally, HWG Holdings LP purchased a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $31,000. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

NYSE NSC traded down $0.35 during trading hours on Tuesday, reaching $242.47. 1,549,107 shares of the stock traded hands, compared to its average volume of 1,246,943. The stock has a 50 day simple moving average of $259.13 and a two-hundred day simple moving average of $244.10. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. 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 cap of $54.86 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data 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. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter in the prior year, the company earned $2.65 EPS. The firm's revenue was up 3.3% on a year-over-year basis. On average, analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were issued a dividend of $1.35 per share. The ex-dividend date was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.23%. Norfolk Southern's dividend payout ratio is currently 50.70%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Sameh Fahmy bought 350 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now owns 10,350 shares of the company's stock, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Loop Capital lifted their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price target 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. Stifel Nicolaus raised their price objective 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. Susquehanna boosted their target price on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Finally, TD Cowen raised their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a "hold" rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.68.

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.