Private Advisor Group LLC Increases Position in Norfolk Southern Corp. (NSC)

Private Advisor Group LLC boosted its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 26.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,511 shares of the railroad operator’s stock after buying an additional 3,281 shares during the quarter. Private Advisor Group LLC’s holdings in Norfolk Southern were worth $2,800,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Norfolk Southern by 16.1% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,046 shares of the railroad operator’s stock valued at $761,000 after buying an additional 700 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Norfolk Southern by 14.0% during the second quarter. State of Alaska Department of Revenue now owns 44,518 shares of the railroad operator’s stock valued at $6,715,000 after buying an additional 5,470 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in shares of Norfolk Southern by 3.7% during the second quarter. Xact Kapitalforvaltning AB now owns 56,514 shares of the railroad operator’s stock valued at $8,526,000 after buying an additional 2,035 shares during the last quarter. NN Investment Partners Holdings N.V. grew its holdings in shares of Norfolk Southern by 56.0% during the second quarter. NN Investment Partners Holdings N.V. now owns 84,097 shares of the railroad operator’s stock valued at $12,687,000 after buying an additional 30,196 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Norfolk Southern during the second quarter valued at approximately $226,000. 74.38% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the stock. Credit Suisse Group dropped their target price on shares of Norfolk Southern from $188.00 to $187.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Scotiabank set a $175.00 target price on shares of Norfolk Southern and gave the stock a “buy” rating in a report on Wednesday, July 25th. Edward Jones cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Loop Capital upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $190.00 in a report on Wednesday, October 24th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $158.00 target price on shares of Norfolk Southern in a report on Friday, July 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. Norfolk Southern currently has an average rating of “Hold” and an average target price of $174.40.

In other news, COO Michael Joseph Wheeler sold 801 shares of Norfolk Southern stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $172.55, for a total transaction of $138,212.55. Following the transaction, the chief operating officer now owns 9,406 shares in the company, valued at approximately $1,623,005.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman James A. Squires sold 34,077 shares of Norfolk Southern stock in a transaction on Monday, August 13th. The stock was sold at an average price of $171.73, for a total transaction of $5,852,043.21. Following the transaction, the chairman now owns 63,958 shares in the company, valued at approximately $10,983,507.34. The disclosure for this sale can be found here. Insiders have sold a total of 37,248 shares of company stock worth $6,405,219 in the last quarter. Corporate insiders own 0.36% of the company’s stock.

Shares of NSC stock opened at $170.32 on Friday. The company has a market capitalization of $47.13 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.56 and a beta of 1.32. Norfolk Southern Corp. has a 12-month low of $125.59 and a 12-month high of $186.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.75 and a current ratio of 0.86.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.08. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Norfolk Southern had a net margin of 52.82% and a return on equity of 15.12%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.75 EPS. As a group, equities analysts predict that Norfolk Southern Corp. will post 9.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 2nd will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, November 1st. Norfolk Southern’s dividend payout ratio is presently 48.41%.

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Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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