Cullen Capital Management LLC Invests $23.57 Million in Norfolk Southern Corporation $NSC

Cullen Capital Management LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 92,087 shares of the railroad operator’s stock, valued at approximately $23,572,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. BNP Paribas purchased a new position in Norfolk Southern during the second quarter valued at $26,000. WPG Advisers LLC purchased a new stake in shares of Norfolk Southern during the first quarter worth about $27,000. True Wealth Design LLC raised 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 worth $28,000 after purchasing an additional 89 shares during the last quarter. NewSquare Capital LLC lifted its stake in Norfolk Southern by 58.5% in the 2nd quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in Norfolk Southern in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Activity

In other news, Director Richard H. Anderson purchased 2,600 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was acquired at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the acquisition, the director directly owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. This represents a 59.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sameh Fahmy purchased 1,650 shares of Norfolk Southern stock in a transaction dated Wednesday, November 5th. The shares were purchased at an average cost of $282.97 per share, for a total transaction of $466,900.50. Following the transaction, the director owned 12,000 shares in the company, valued at approximately $3,395,640. This trade represents a 15.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 4,454 shares of company stock worth $1,259,874. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. TD Cowen reduced their target price on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a report on Friday, October 24th. UBS Group dropped their price target on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Citigroup decreased their price objective on Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Susquehanna upped their target price on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Finally, Barclays raised their price target on shares of Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Six equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $297.90.

Norfolk Southern Stock Performance

NYSE NSC opened at $296.99 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86. The stock’s fifty day moving average is $287.93 and its two-hundred day moving average is $277.48. The firm has a market capitalization of $66.64 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 2.72 and a beta of 1.32. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $302.24.

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 the consensus estimate of $3.31 by ($0.01). The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.25 EPS. On average, research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Friday, November 7th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, November 7th. Norfolk Southern’s payout ratio is presently 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.