AlphaCore Capital LLC Acquires Shares of 617 Norfolk Southern Corporation $NSC

AlphaCore Capital LLC bought a new position in Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 617 shares of the railroad operator’s stock, valued at approximately $158,000.

A number of other large investors also recently made changes to their positions in NSC. Mufg Securities Americas Inc. increased its stake in Norfolk Southern by 24.7% in the 2nd quarter. Mufg Securities Americas Inc. now owns 4,996 shares of the railroad operator’s stock valued at $1,279,000 after buying an additional 988 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of Norfolk Southern during the second quarter valued at approximately $607,000. Journey Strategic Wealth LLC bought a new stake in Norfolk Southern during the second quarter worth $217,000. Brandywine Global Investment Management LLC bought a new stake in Norfolk Southern during the second quarter worth $34,931,000. Finally, Swiss National Bank boosted its position in Norfolk Southern by 7.3% in the second quarter. Swiss National Bank now owns 684,700 shares of the railroad operator’s stock worth $175,263,000 after purchasing an additional 46,600 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Loop Capital lifted their target price on Norfolk Southern from $235.00 to $278.00 and gave the stock a “hold” rating in a research note on Tuesday, September 16th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Monday, October 27th. JPMorgan Chase & Co. boosted their target price on shares of Norfolk Southern from $288.00 to $303.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Susquehanna raised their price target on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Norfolk Southern from $290.00 to $354.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Seven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $301.10.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy bought 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were acquired at an average price of $282.97 per share, with a total value of $466,900.50. Following the acquisition, the director owned 12,000 shares of the company’s stock, valued at approximately $3,395,640. The trade was a 15.94% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Anil Bhatt sold 900 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total transaction of $253,440.00. Following the completion of the sale, the executive vice president owned 1,413 shares in the company, valued at $397,900.80. This represents a 38.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.06% of the company’s stock.

Norfolk Southern Stock Up 2.2%

Norfolk Southern stock opened at $289.28 on Wednesday. The firm has a 50 day simple moving average of $288.02 and a 200 day simple moving average of $272.83. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24. The firm has a market capitalization of $64.91 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 2.52 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last posted its quarterly 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 company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.Norfolk Southern’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $3.25 earnings per share. On average, analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Friday, November 7th were given a dividend of $1.35 per share. The ex-dividend date was Friday, November 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio is currently 41.19%.

Norfolk Southern 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.