Gryphon Financial Partners LLC Increases Stock Position in Norfolk Southern Co. (NYSE:NSC)

Gryphon Financial Partners LLC grew its position in Norfolk Southern Co. (NYSE:NSCFree Report) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,840 shares of the railroad operator’s stock after purchasing an additional 198 shares during the period. Gryphon Financial Partners LLC’s holdings in Norfolk Southern were worth $672,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NSC. Lazard Asset Management LLC increased its holdings in Norfolk Southern by 3.2% during the third quarter. Lazard Asset Management LLC now owns 8,629,330 shares of the railroad operator’s stock worth $1,699,371,000 after buying an additional 264,031 shares during the last quarter. Northern Trust Corp increased its holdings in Norfolk Southern by 0.9% during the third quarter. Northern Trust Corp now owns 3,073,839 shares of the railroad operator’s stock worth $605,331,000 after buying an additional 26,686 shares during the last quarter. American Century Companies Inc. increased its holdings in Norfolk Southern by 69.0% during the third quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock worth $536,319,000 after buying an additional 1,112,261 shares during the last quarter. Morgan Stanley increased its holdings in Norfolk Southern by 3.2% during the third quarter. Morgan Stanley now owns 2,385,434 shares of the railroad operator’s stock worth $469,764,000 after buying an additional 73,149 shares during the last quarter. Finally, London Co. of Virginia increased its holdings in Norfolk Southern by 41.2% during the third quarter. London Co. of Virginia now owns 1,976,871 shares of the railroad operator’s stock worth $389,305,000 after buying an additional 577,171 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In related news, Director Claude Mongeau acquired 5,650 shares of Norfolk Southern stock in a transaction on Wednesday, May 29th. The shares were acquired at an average cost of $221.00 per share, with a total value of $1,248,650.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $4,420,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Claude Mongeau acquired 5,650 shares of Norfolk Southern stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $4,420,000. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NSC shares. Citigroup lifted their target price on shares of Norfolk Southern from $253.00 to $286.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. TD Cowen raised their price objective on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. Jefferies Financial Group began coverage on shares of Norfolk Southern in a research report on Monday, April 8th. They issued a “buy” rating and a $300.00 price objective for the company. Susquehanna cut their price objective on shares of Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. Finally, Benchmark restated a “buy” rating and issued a $277.00 price objective on shares of Norfolk Southern in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.78.

Get Our Latest Stock Analysis on NSC

Norfolk Southern Stock Up 1.9 %

Shares of NYSE NSC opened at $224.80 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The firm’s fifty day moving average is $238.11 and its 200 day moving average is $238.48. The company has a market cap of $50.78 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 2.08 and a beta of 1.30.

Norfolk Southern (NYSE:NSCGet Free Report) last issued its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the firm earned $3.32 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts expect that Norfolk Southern Co. will post 11.88 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

About Norfolk Southern

(Free Report)

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.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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