Norfolk Southern Co. (NYSE:NSC) Shares Purchased by Allworth Financial LP

Allworth Financial LP raised its position in Norfolk Southern Co. (NYSE:NSC) by 15.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,696 shares of the railroad operator’s stock after buying an additional 1,287 shares during the period. Allworth Financial LP’s holdings in Norfolk Southern were worth $2,410,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NSC. Wealthcare Advisory Partners LLC boosted its stake in shares of Norfolk Southern by 72.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,900 shares of the railroad operator’s stock worth $739,000 after acquiring an additional 1,221 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Norfolk Southern by 6.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,527 shares of the railroad operator’s stock worth $10,584,000 after purchasing an additional 2,483 shares during the last quarter. LVW Advisors LLC purchased a new stake in shares of Norfolk Southern during the first quarter worth $205,000. Aviance Capital Partners LLC acquired a new stake in shares of Norfolk Southern in the first quarter valued at about $203,000. Finally, Miracle Mile Advisors LLC lifted its stake in shares of Norfolk Southern by 6.0% in the first quarter. Miracle Mile Advisors LLC now owns 1,322 shares of the railroad operator’s stock worth $337,000 after buying an additional 75 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on NSC. Royal Bank of Canada upped their price objective on shares of Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Stephens reiterated an “equal weight” rating and set a $263.00 price objective on shares of Norfolk Southern in a research report on Wednesday, October 23rd. Barclays boosted their price objective on Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Evercore ISI cut their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Loop Capital boosted their price target on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern Stock Down 0.9 %

NYSE:NSC opened at $251.09 on Monday. Norfolk Southern Co. has a 52 week low of $183.76 and a 52 week high of $263.66. The company has a quick ratio of 0.54, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The stock’s fifty day moving average is $249.22 and its two-hundred day moving average is $236.79. The stock has a market capitalization of $56.72 billion, a price-to-earnings ratio of 40.43, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Norfolk Southern’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the business posted $2.65 EPS. Research analysts anticipate that Norfolk Southern Co. will post 11.78 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy acquired 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sameh Fahmy bought 700 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

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.