Alps Advisors Inc. Boosts Stock Holdings in Norfolk Southern Corporation $NSC

Alps Advisors Inc. lifted its holdings in Norfolk Southern Corporation (NYSE:NSC) by 347.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,928 shares of the railroad operator’s stock after purchasing an additional 5,379 shares during the period. Alps Advisors Inc.’s holdings in Norfolk Southern were worth $2,081,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Norfolk Southern by 1.2% in the second quarter. Vanguard Group Inc. now owns 20,561,273 shares of the railroad operator’s stock valued at $5,263,069,000 after purchasing an additional 239,914 shares during the last quarter. Dodge & Cox boosted its holdings in shares of Norfolk Southern by 1.8% in the 2nd quarter. Dodge & Cox now owns 10,859,121 shares of the railroad operator’s stock valued at $2,779,609,000 after buying an additional 192,567 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Norfolk Southern by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,822,075 shares of the railroad operator’s stock worth $1,228,064,000 after buying an additional 36,362 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of Norfolk Southern by 4.6% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 4,182,921 shares of the railroad operator’s stock worth $1,070,702,000 after acquiring an additional 184,586 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Norfolk Southern by 6.5% during the 2nd quarter. Lazard Asset Management LLC now owns 3,289,431 shares of the railroad operator’s stock worth $841,994,000 after acquiring an additional 201,861 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 3.3%

NYSE NSC opened at $315.96 on Wednesday. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $316.24. 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 capitalization of $70.90 billion, a PE ratio of 24.78, a P/E/G ratio of 5.44 and a beta of 1.34. The company has a fifty day moving average of $292.49 and a 200 day moving average of $287.34.

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

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s payout ratio is presently 42.35%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. TD Cowen cut their price target on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Morgan Stanley upgraded Norfolk Southern from an “equal weight” rating to a “buy” rating in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft cut Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price target for the company from $354.00 to $297.00 in a research note on Thursday, December 11th. Robert W. Baird lowered their price target on Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Finally, BMO Capital Markets lifted their target price on shares of Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $304.47.

Insider Activity

In other Norfolk Southern news, Director William Jr. Clyburn purchased 204 shares of Norfolk Southern stock in a transaction that occurred on Friday, December 5th. The stock was bought at an average price of $294.79 per share, with a total value of $60,137.16. Following the acquisition, the director owned 405 shares of the company’s stock, valued at $119,389.95. This trade represents a 101.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Anil Bhatt sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were 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 in the company, valued at approximately $397,900.80. The trade was a 38.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is owned by insiders.

Norfolk Southern Company Profile

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.