First Horizon Corp Makes New $565,000 Investment in Norfolk Southern Corporation $NSC

First Horizon Corp bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,882 shares of the railroad operator’s stock, valued at approximately $565,000.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC grew its position in Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after buying an additional 36 shares during the period. BNP Paribas purchased a new position in Norfolk Southern in the second quarter valued at about $26,000. True Wealth Design LLC grew its position in shares of 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 acquiring an additional 89 shares during the period. Highline Wealth Partners LLC grew its position in shares of Norfolk Southern by 68.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Finally, NewSquare Capital LLC increased its stake in shares of Norfolk Southern by 58.5% during the 2nd quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Insider Activity

In other Norfolk Southern news, Director Richard H. Anderson acquired 2,600 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were bought at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the transaction, the director owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. This represents a 59.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anil Bhatt sold 900 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total value of $253,440.00. Following the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. The trade was a 38.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders bought 4,454 shares of company stock worth $1,259,874. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NSC. Morgan Stanley raised Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. JPMorgan Chase & Co. cut their price target on Norfolk Southern from $303.00 to $301.00 and set a “neutral” rating for the company in a research note on Monday. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Monday, October 27th. Sanford C. Bernstein dropped their price objective on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Finally, Zacks Research downgraded shares of Norfolk Southern from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 19th. Seven investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $299.85.

Norfolk Southern Stock Down 0.2%

NSC stock opened at $288.15 on Wednesday. The stock has a 50-day simple moving average of $289.21 and a two-hundred day simple moving average of $283.58. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24. The firm has a market capitalization of $64.66 billion, a PE ratio of 21.98, a PEG ratio of 4.95 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data 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 firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $3.25 earnings per share. On average, equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, November 7th. Norfolk Southern’s payout ratio is 41.19%.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.