Farr Miller & Washington LLC DC raised its stake in Norfolk Southern Co. (NYSE:NSC) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,496 shares of the railroad operator’s stock after purchasing an additional 460 shares during the quarter. Farr Miller & Washington LLC DC’s holdings in Norfolk Southern were worth $4,172,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brookstone Capital Management raised its holdings in Norfolk Southern by 3.4% in the 3rd quarter. Brookstone Capital Management now owns 1,418 shares of the railroad operator’s stock worth $303,000 after acquiring an additional 47 shares during the period. Aurora Private Wealth Inc. increased its position in shares of Norfolk Southern by 1.2% during the third quarter. Aurora Private Wealth Inc. now owns 3,974 shares of the railroad operator’s stock valued at $850,000 after buying an additional 49 shares during the period. VeraBank N.A. lifted its stake in Norfolk Southern by 1.1% in the third quarter. VeraBank N.A. now owns 4,508 shares of the railroad operator’s stock worth $965,000 after acquiring an additional 50 shares during the period. Conning Inc. lifted its position in shares of Norfolk Southern by 1.3% during the 3rd quarter. Conning Inc. now owns 4,017 shares of the railroad operator’s stock valued at $860,000 after buying an additional 50 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its stake in Norfolk Southern by 1.3% in the 3rd quarter. Crestwood Advisors Group LLC now owns 4,123 shares of the railroad operator’s stock worth $882,000 after acquiring an additional 54 shares during the last quarter. 66.94% of the stock is owned by institutional investors and hedge funds.
In other Norfolk Southern news, EVP Ann A. Adams sold 1,370 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $213.86, for a total transaction of $292,988.20. Following the completion of the transaction, the executive vice president now owns 8,011 shares of the company’s stock, valued at $1,713,232.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.
Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on Norfolk Southern from $132.00 to $134.00 and gave the company an “underweight” rating in a research note on Monday, October 5th. Barclays upgraded shares of Norfolk Southern from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $202.00 to $230.00 in a research report on Friday, October 16th. Credit Suisse Group boosted their price target on shares of Norfolk Southern from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Norfolk Southern from $215.00 to $237.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Citigroup increased their price target on shares of Norfolk Southern from $214.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Norfolk Southern currently has a consensus rating of “Buy” and a consensus target price of $214.96.
Shares of NSC stock opened at $243.60 on Monday. The company has a market capitalization of $66.58 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 3.22 and a beta of 1.42. Norfolk Southern Co. has a 12-month low of $112.62 and a 12-month high of $247.98. The firm has a fifty day moving average of $224.27 and a 200-day moving average of $200.71. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.85.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, October 28th. The railroad operator reported $2.51 EPS for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.15. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.53 billion. Norfolk Southern had a net margin of 20.27% and a return on equity of 15.83%. On average, equities analysts expect that Norfolk Southern Co. will post 9.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 6th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, November 5th. Norfolk Southern’s payout ratio is 36.36%.
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 industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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