Norfolk Southern Corporation $NSC Shares Acquired by Cullen Capital Management LLC

Cullen Capital Management LLC grew its holdings in Norfolk Southern Corporation (NYSE:NSC) by 31.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 121,351 shares of the railroad operator’s stock after acquiring an additional 29,264 shares during the quarter. Cullen Capital Management LLC owned about 0.05% of Norfolk Southern worth $36,455,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NSC. Tritonpoint Wealth LLC raised its holdings in Norfolk Southern by 3.5% during the third quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock worth $313,000 after purchasing an additional 35 shares in the last quarter. Massachusetts Wealth Management grew its position in shares of Norfolk Southern by 0.6% in the 3rd quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock valued at $1,798,000 after buying an additional 35 shares during the last quarter. ORG Partners LLC raised its stake in Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Princeton Global Asset Management LLC lifted its position in Norfolk Southern by 2.3% in the second quarter. Princeton Global Asset Management LLC now owns 1,640 shares of the railroad operator’s stock valued at $420,000 after acquiring an additional 37 shares during the last quarter. Finally, Horan Securities Inc. boosted its stake in Norfolk Southern by 2.1% in the second quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock valued at $452,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $306.77 on Thursday. The stock has a fifty day moving average price of $291.07 and a 200 day moving average price of $286.47. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $308.11. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The company has a market cap of $68.84 billion, a PE ratio of 24.06, a P/E/G ratio of 5.30 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. Norfolk Southern’s quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be given a $1.35 dividend. The ex-dividend date is Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern’s dividend payout ratio (DPR) is presently 42.35%.

Insider Buying and Selling

In other news, EVP Anil Bhatt sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total value of $253,440.00. Following the completion of the sale, the executive vice president directly owned 1,413 shares of the company’s stock, valued at $397,900.80. This trade represents a 38.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Jr. Clyburn purchased 204 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the purchase, the director owned 405 shares of the company’s stock, valued at approximately $119,389.95. This represents a 101.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NSC shares. Citigroup reduced their target price on Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Sanford C. Bernstein reduced their price objective on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Barclays decreased their price objective on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Robert W. Baird cut their target price on shares of Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Finally, Zacks Research cut shares of Norfolk Southern from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 19th. Eight research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Norfolk Southern currently has an average rating of “Hold” and an average price target of $303.32.

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.