Everence Capital Management Inc. Boosts Holdings in Norfolk Southern Co. (NYSE:NSC)

Everence Capital Management Inc. lifted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 27.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,540 shares of the railroad operator’s stock after acquiring an additional 1,200 shares during the period. Everence Capital Management Inc.’s holdings in Norfolk Southern were worth $1,300,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Mizuho Securities USA LLC raised its stake in Norfolk Southern by 18,831.2% during the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after purchasing an additional 3,280,579 shares during the period. Pathway Financial Advisers LLC lifted its position in Norfolk Southern by 25,181.8% during the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after buying an additional 889,925 shares in the last quarter. FMR LLC grew its stake in Norfolk Southern by 48.4% during the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after buying an additional 881,415 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Norfolk Southern in the third quarter worth $207,830,000. Finally, American Century Companies Inc. lifted its holdings in shares of Norfolk Southern by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock valued at $720,626,000 after acquiring an additional 496,088 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $235.88 on Friday. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The company has a market cap of $53.37 billion, a PE ratio of 22.15, a P/E/G ratio of 2.34 and a beta of 1.31. The stock has a 50 day simple moving average of $255.12 and a 200-day simple moving average of $244.81.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the business posted $2.65 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy purchased 350 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the acquisition, the director now owns 10,350 shares of the company’s stock, valued at $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Citigroup increased their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Bank of America boosted their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Loop Capital increased their price target on shares of Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada upped their price objective on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $275.68.

About Norfolk Southern

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.