Park Place Capital Corp Has $1.10 Million Stock Holdings in Norfolk Southern Corporation $NSC

Park Place Capital Corp boosted its stake in Norfolk Southern Corporation (NYSE:NSC) by 13,000.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,668 shares of the railroad operator’s stock after purchasing an additional 3,640 shares during the period. Park Place Capital Corp’s holdings in Norfolk Southern were worth $1,102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tritonpoint Wealth LLC grew its position in Norfolk Southern by 3.5% during the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock worth $313,000 after acquiring an additional 35 shares during the last quarter. Massachusetts Wealth Management grew its holdings in shares of Norfolk Southern by 0.6% during the third quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock worth $1,798,000 after purchasing an additional 35 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in shares of 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 buying an additional 37 shares during the period. Horan Securities Inc. increased its stake in shares of 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 buying an additional 37 shares during the period. Finally, Inspirion Wealth Advisors LLC raised its holdings in Norfolk Southern by 1.9% in the 3rd quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator’s stock valued at $603,000 after buying an additional 37 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.4%

Shares of NYSE:NSC opened at $287.59 on Monday. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78. The business’s 50-day moving average is $288.34 and its 200-day moving average is $281.96. The company has a market capitalization of $64.53 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 4.94 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.Norfolk Southern’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.25 earnings per share. Equities research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, November 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 41.19%.

Analyst Ratings Changes

NSC has been the subject of several recent research reports. Evercore ISI upped their price target on shares of Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Monday, October 27th. Barclays raised their target price on Norfolk Southern from $320.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. JPMorgan Chase & Co. lifted their target price on Norfolk Southern from $288.00 to $303.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Finally, 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. Seven research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and an average target price of $299.45.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, EVP Anil Bhatt sold 900 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total transaction of $253,440.00. Following the completion of the sale, the executive vice president owned 1,413 shares in the company, valued at approximately $397,900.80. The trade was a 38.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William Jr. Clyburn purchased 204 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were bought at an average price of $294.79 per share, with a total value of $60,137.16. Following the acquisition, the director directly owned 405 shares of the company’s stock, valued at $119,389.95. This represents a 101.49% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 4,454 shares of company stock valued at $1,259,874. 0.06% of the stock is currently owned by company 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.