Dakota Wealth Management grew its holdings in Norfolk Southern Co. (NYSE:NSC – Free Report) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,206 shares of the railroad operator’s stock after buying an additional 150 shares during the quarter. Dakota Wealth Management’s holdings in Norfolk Southern were worth $1,791,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Boston Partners boosted its holdings in Norfolk Southern by 157.1% in the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after buying an additional 1,766,135 shares during the last quarter. Vanguard Group Inc. boosted its stake in Norfolk Southern by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after purchasing an additional 1,088,072 shares during the last quarter. American Century Companies Inc. raised its position in shares of Norfolk Southern by 17.3% in the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock valued at $720,626,000 after buying an additional 496,088 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in Norfolk Southern by 10.2% during the first quarter. EdgePoint Investment Group Inc. now owns 3,752,050 shares of the railroad operator’s stock worth $956,285,000 after acquiring an additional 347,852 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Norfolk Southern by 23,037.4% in the 3rd quarter. International Assets Investment Management LLC now owns 349,143 shares of the railroad operator’s stock valued at $86,762,000 after acquiring an additional 347,634 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NSC has been the subject of a number of recent research reports. Evercore ISI cut their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays increased their price target on shares of Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday. Stephens reiterated an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a research report on Wednesday. Sanford C. Bernstein upped their price target 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 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 note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $274.16.
Check Out Our Latest Stock Report on NSC
Norfolk Southern Stock Performance
NYSE:NSC opened at $251.09 on Friday. Norfolk Southern Co. has a 52 week low of $183.76 and a 52 week high of $263.66. The company has a fifty day simple moving average of $249.22 and a two-hundred day simple moving average of $237.00. The company has a quick ratio of 0.54, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The company has a market cap of $56.77 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31.
Norfolk Southern (NYSE:NSC – Get Free Report) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Norfolk Southern’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.65 EPS. As a group, equities analysts anticipate that Norfolk Southern Co. will post 11.78 earnings per share for the current fiscal year.
Norfolk Southern Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.15%. Norfolk Southern’s payout ratio is 50.70%.
Insider Activity at Norfolk Southern
In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other 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 sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 3,700 shares of company stock valued at $921,565 over the last 90 days. 0.19% of the stock is owned by corporate insiders.
Norfolk Southern 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.
Recommended Stories
Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Co. (NYSE:NSC – Free Report).
Receive News & Ratings for Norfolk Southern Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Norfolk Southern and related companies with MarketBeat.com’s FREE daily email newsletter.