EFG Asset Management Americas Corp. Cuts Stock Holdings in Norfolk Southern Corporation $NSC

EFG Asset Management Americas Corp. lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 9.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,106 shares of the railroad operator’s stock after selling 725 shares during the period. EFG Asset Management Americas Corp.’s holdings in Norfolk Southern were worth $1,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC increased its holdings in shares of Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after acquiring an additional 79 shares during the period. J.W. Cole Advisors Inc. boosted its position in Norfolk Southern by 106.1% during the first quarter. J.W. Cole Advisors Inc. now owns 7,881 shares of the railroad operator’s stock valued at $1,867,000 after purchasing an additional 4,057 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in Norfolk Southern by 3.0% in the first quarter. KLP Kapitalforvaltning AS now owns 78,113 shares of the railroad operator’s stock valued at $18,501,000 after purchasing an additional 2,300 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in Norfolk Southern by 12.1% in the first quarter. Proficio Capital Partners LLC now owns 1,040 shares of the railroad operator’s stock worth $246,000 after purchasing an additional 112 shares in the last quarter. Finally, SYM FINANCIAL Corp lifted its position in shares of Norfolk Southern by 4.0% during the first quarter. SYM FINANCIAL Corp now owns 4,075 shares of the railroad operator’s stock valued at $965,000 after buying an additional 157 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Insider Transactions at Norfolk Southern

In related news, Director Richard H. Anderson acquired 2,600 shares of Norfolk Southern stock in a transaction on Monday, October 27th. The stock was bought at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the transaction, the director owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. The trade was a 59.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sameh Fahmy bought 1,650 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was bought at an average price of $282.97 per share, for a total transaction of $466,900.50. Following the transaction, the director owned 12,000 shares of the company’s stock, valued at approximately $3,395,640. This trade represents a 15.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is owned by company insiders.

Norfolk Southern Trading Up 0.4%

Norfolk Southern stock opened at $281.85 on Thursday. The firm has a market cap of $63.24 billion, a PE ratio of 21.50, a P/E/G ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. The stock’s 50 day simple moving average is $287.31 and its two-hundred day simple moving average is $270.71. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by ($0.01). The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.25 earnings per share. Analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s dividend payout ratio is presently 41.19%.

Analysts Set New Price Targets

NSC has been the subject of a number of analyst reports. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Monday, October 27th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price objective on shares of Norfolk Southern in a report on Friday, July 25th. UBS Group dropped their target price on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Royal Bank Of Canada decreased their price target on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a research note on Friday, October 24th. Finally, Evercore ISI raised their price target on Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $301.10.

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.