Carnegie Investment Counsel Has $30.19 Million Stake in Norfolk Southern Corporation $NSC

Carnegie Investment Counsel boosted its position in Norfolk Southern Corporation (NYSE:NSC) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,923 shares of the railroad operator’s stock after buying an additional 3,380 shares during the period. Carnegie Investment Counsel owned approximately 0.05% of Norfolk Southern worth $30,185,000 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. WPG Advisers LLC acquired a new position in shares of Norfolk Southern during the first quarter valued at about $27,000. Physician Wealth Advisors Inc. raised its holdings in shares of Norfolk Southern by 129.2% during the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator’s stock valued at $35,000 after purchasing an additional 84 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in shares of Norfolk Southern during the first quarter valued at about $41,000. Golden State Wealth Management LLC raised its holdings in shares of Norfolk Southern by 883.3% during the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after purchasing an additional 159 shares during the period. Finally, Pinnacle Bancorp Inc. raised its holdings in shares of Norfolk Southern by 30.5% during the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock valued at $47,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Ratings Changes

NSC has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Norfolk Southern from $288.00 to $303.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Royal Bank Of Canada lowered shares of Norfolk Southern from a “moderate buy” rating to a “hold” rating in a report on Tuesday, July 29th. Robert W. Baird upped their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Norfolk Southern in a research report on Wednesday, October 8th. Finally, Bank of America upped their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Eight research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $293.80.

Norfolk Southern Stock Down 1.6%

NSC opened at $283.89 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The stock has a market cap of $63.77 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 2.59 and a beta of 1.33. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24. The company’s 50-day moving average price is $285.79 and its two-hundred day moving average price is $261.68.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.25 earnings per share. As a group, equities analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, November 7th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, November 7th. Norfolk Southern’s dividend payout ratio is presently 36.49%.

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.