Norfolk Southern Corporation $NSC Shares Bought by Allworth Financial LP

Allworth Financial LP raised its holdings in Norfolk Southern Corporation (NYSE:NSC) by 24.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,099 shares of the railroad operator’s stock after buying an additional 2,181 shares during the quarter. Allworth Financial LP’s holdings in Norfolk Southern were worth $2,841,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. WPG Advisers LLC purchased a new position in shares of Norfolk Southern in the 1st quarter valued at approximately $27,000. True Wealth Design LLC increased its stake in Norfolk Southern by 423.8% during the 2nd quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after purchasing an additional 89 shares in the last quarter. NewSquare Capital LLC raised its holdings in shares of Norfolk Southern by 58.5% in the second quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Pinnacle Bancorp Inc. lifted its stake in shares of Norfolk Southern by 30.5% during the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after buying an additional 43 shares during the period. Finally, Chung Wu Investment Group LLC purchased a new stake in shares of Norfolk Southern during the second quarter valued at $51,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $286.63 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78. The stock has a market capitalization of $64.32 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.52 and a beta of 1.33. The firm’s 50 day simple moving average is $286.63 and its 200-day simple moving average is $268.63. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. Norfolk Southern’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $3.25 earnings per share. Analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s dividend payout ratio is presently 41.19%.

Insider Buying and Selling

In related news, Director Richard H. Anderson purchased 2,600 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were purchased at an average price of $281.86 per share, with a total value of $732,836.00. Following the purchase, the director owned 7,000 shares of the company’s stock, valued at $1,973,020. The trade was a 59.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sameh Fahmy acquired 1,650 shares of Norfolk Southern stock in a transaction on Wednesday, November 5th. The shares were bought at an average price of $282.97 per share, with a total value of $466,900.50. Following the completion of the transaction, the director directly owned 12,000 shares of the company’s stock, valued at $3,395,640. This trade represents a 15.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NSC. JPMorgan Chase & Co. lifted their price target on Norfolk Southern from $288.00 to $303.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. BMO Capital Markets raised their price objective on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 target price on shares of Norfolk Southern in a report on Friday, July 25th. Robert W. Baird increased their price target on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Loop Capital lifted their price objective on shares of Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research note on Tuesday, September 16th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $299.70.

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.