Werlinich Asset Management LLC Acquires 50 Shares of Norfolk Southern Co. (NYSE:NSC)

Werlinich Asset Management LLC lifted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,009 shares of the railroad operator’s stock after purchasing an additional 50 shares during the period. Werlinich Asset Management LLC’s holdings in Norfolk Southern were worth $996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bangor Savings Bank raised its stake in shares of Norfolk Southern by 166.0% in the third quarter. Bangor Savings Bank now owns 250 shares of the railroad operator’s stock worth $62,000 after purchasing an additional 156 shares during the last quarter. Heartwood Wealth Advisors LLC bought a new stake in Norfolk Southern during the third quarter worth $229,000. Salvus Wealth Management LLC raised its position in Norfolk Southern by 3.3% in the 3rd quarter. Salvus Wealth Management LLC now owns 4,702 shares of the railroad operator’s stock valued at $1,168,000 after buying an additional 151 shares during the last quarter. Fulton Bank N.A. raised its position in Norfolk Southern by 2.1% in the 3rd quarter. Fulton Bank N.A. now owns 8,181 shares of the railroad operator’s stock valued at $2,033,000 after buying an additional 169 shares during the last quarter. Finally, Miracle Mile Advisors LLC lifted its stake in Norfolk Southern by 8.7% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,416 shares of the railroad operator’s stock valued at $352,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Activity

In related news, EVP Nabanita C. Nag sold 355 shares of the company’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 sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction dated Monday, July 29th. The shares were 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NSC has been the subject of several recent analyst reports. Evercore ISI upped their target price on shares of Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Morgan Stanley reaffirmed an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. Royal Bank of Canada lifted their target price on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. TD Cowen upped their target price on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus lifted their price target on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $266.56.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $243.82 on Tuesday. The company has a 50-day moving average price of $246.80 and a two-hundred day moving average price of $236.88. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $55.08 billion, a PE ratio of 39.26, a P/E/G ratio of 2.40 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.95 EPS. Equities analysts forecast that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio is presently 86.96%.

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.