Stephens Inc. AR Boosts Stake in Norfolk Southern Co. (NYSE:NSC)

Stephens Inc. AR grew its position in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 1.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,049 shares of the railroad operator’s stock after acquiring an additional 148 shares during the period. Stephens Inc. AR’s holdings in Norfolk Southern were worth $2,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WealthPlan Investment Management LLC grew its stake in shares of Norfolk Southern by 2,777.8% in the 3rd quarter. WealthPlan Investment Management LLC now owns 2,590 shares of the railroad operator’s stock worth $510,000 after buying an additional 2,500 shares during the last quarter. Pathstone Family Office LLC grew its stake in shares of Norfolk Southern by 200.1% in the 3rd quarter. Pathstone Family Office LLC now owns 16,077 shares of the railroad operator’s stock worth $3,198,000 after buying an additional 10,719 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Norfolk Southern by 8.1% in the 3rd quarter. HighTower Advisors LLC now owns 143,799 shares of the railroad operator’s stock worth $28,328,000 after buying an additional 10,746 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $66,000. Finally, Wade G W & Inc. grew its stake in shares of Norfolk Southern by 58.3% in the 3rd quarter. Wade G W & Inc. now owns 1,882 shares of the railroad operator’s stock worth $371,000 after buying an additional 693 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NYSE:NSC opened at $224.07 on Friday. The stock has a market cap of $50.62 billion, a PE ratio of 36.08, a P/E/G ratio of 2.11 and a beta of 1.31. The business’s 50-day simple moving average is $235.33 and its two-hundred day simple moving average is $238.94. 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.

Norfolk Southern (NYSE:NSCGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.32 EPS. As a group, analysts forecast that Norfolk Southern Co. will post 11.88 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.41%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Wall Street Analyst Weigh In

NSC has been the topic of several recent research reports. Susquehanna cut their price target on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Barclays cut their target price on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, May 13th. Royal Bank of Canada upgraded Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 target price on the stock in a research note on Thursday, May 23rd. Loop Capital increased their target price on Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Benchmark reiterated a “buy” rating and set a $277.00 target price on shares of Norfolk Southern in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and an average price target of $264.56.

View Our Latest Report on Norfolk Southern

Insider Buying and Selling

In related news, Director Claude Mongeau purchased 5,650 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average price 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Claude Mongeau purchased 5,650 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

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.

Further Reading

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

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