Norfolk Southern Corporation $NSC Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in Norfolk Southern Corporation (NYSE:NSC) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 250,186 shares of the railroad operator’s stock after purchasing an additional 2,049 shares during the period. Principal Financial Group Inc.’s holdings in Norfolk Southern were worth $75,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NSC. Topsail Wealth Management LLC purchased a new position in shares of Norfolk Southern during the third quarter worth $231,000. Lee Financial Co purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at $248,000. Frank Rimerman Advisors LLC lifted its stake in Norfolk Southern by 62.2% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 2,464 shares of the railroad operator’s stock worth $740,000 after acquiring an additional 945 shares in the last quarter. Everhart Financial Group Inc. boosted its holdings in Norfolk Southern by 12.9% during the 3rd quarter. Everhart Financial Group Inc. now owns 2,874 shares of the railroad operator’s stock valued at $863,000 after acquiring an additional 329 shares during the period. Finally, Howard Capital Management Inc. boosted its holdings in Norfolk Southern by 2.9% during the 3rd quarter. Howard Capital Management Inc. now owns 1,703 shares of the railroad operator’s stock valued at $512,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling

In other news, EVP Anil Bhatt sold 900 shares of the business’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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Jr. Clyburn bought 204 shares of the stock in a transaction dated 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 in the company, valued at approximately $119,389.95. This represents a 101.49% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by company insiders.

Norfolk Southern Stock Performance

NYSE:NSC opened at $298.37 on Wednesday. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. 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 firm has a market capitalization of $66.95 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 5.18 and a beta of 1.34. The business’s fifty day moving average price is $290.74 and its 200 day moving average price is $286.33.

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

Norfolk Southern Announces Dividend

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

Analyst Ratings Changes

NSC has been the topic of several research reports. Royal Bank Of Canada reduced their price target on shares of Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating on the stock in a research report on Friday. Zacks Research downgraded shares of Norfolk Southern from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 19th. Wolfe Research boosted their price target on shares of Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Susquehanna boosted their price target on shares of Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Norfolk Southern in a research note on Thursday, January 22nd. Eight 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $303.32.

Norfolk Southern 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.