Malaga Cove Capital LLC Buys 1,058 Shares of Norfolk Southern Corporation $NSC

Malaga Cove Capital LLC boosted its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 43.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,509 shares of the railroad operator’s stock after buying an additional 1,058 shares during the period. Malaga Cove Capital LLC’s holdings in Norfolk Southern were worth $898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NSC. Princeton Global Asset Management LLC boosted its position in shares of Norfolk Southern by 2.3% during the 2nd quarter. Princeton Global Asset Management LLC now owns 1,640 shares of the railroad operator’s stock worth $420,000 after acquiring an additional 37 shares in the last quarter. Horan Securities Inc. lifted its stake in Norfolk Southern by 2.1% during the second quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock worth $452,000 after purchasing an additional 37 shares during the last quarter. Gables Capital Management Inc. boosted its stake in Norfolk Southern by 2.7% in the second quarter. Gables Capital Management Inc. now owns 1,466 shares of the railroad operator’s stock valued at $375,000 after buying an additional 38 shares in the last quarter. SeaCrest Wealth Management LLC raised its stake in Norfolk Southern by 1.7% during the second quarter. SeaCrest Wealth Management LLC now owns 2,429 shares of the railroad operator’s stock worth $622,000 after acquiring an additional 40 shares in the last quarter. Finally, Gilbert & Cook Inc. lifted its holdings in shares of Norfolk Southern by 1.7% in the second quarter. Gilbert & Cook Inc. now owns 2,430 shares of the railroad operator’s stock worth $622,000 after acquiring an additional 41 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Trading Up 0.4%

Shares of NSC stock opened at $282.01 on Friday. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. The stock has a market cap of $63.28 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 2.52 and a beta of 1.33. The stock has a 50-day moving average of $286.04 and a 200-day moving average of $266.52.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data 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 company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.Norfolk Southern’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.25 earnings per share. On average, equities research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 1,650 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average price of $282.97 per share, for a total transaction of $466,900.50. Following the transaction, the director directly owned 12,000 shares in the company, valued at approximately $3,395,640. This trade represents a 15.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard H. Anderson bought 2,600 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average cost of $281.86 per share, with a total value of $732,836.00. Following the purchase, the director directly owned 7,000 shares of the company’s stock, valued at $1,973,020. This trade represents a 59.09% 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 insiders.

Analyst Ratings Changes

NSC has been the subject of a number of research analyst reports. Loop Capital upped their price objective on shares of Norfolk Southern from $235.00 to $278.00 and gave the stock a “hold” rating in a research report on Tuesday, September 16th. Citigroup dropped their price target on Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. TD Cowen reduced their price objective on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Weiss Ratings cut Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Royal Bank Of Canada dropped their target price on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a research report on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $299.70.

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.