Cullen Capital Management LLC Increases Position in Norfolk Southern Corporation $NSC

Cullen Capital Management LLC increased its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 31.8% during the third quarter, Holdings Channel reports. The institutional investor owned 121,351 shares of the railroad operator’s stock after acquiring an additional 29,264 shares during the period. Cullen Capital Management LLC’s holdings in Norfolk Southern were worth $36,455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. Aberdeen Group plc increased its stake in shares of Norfolk Southern by 6.4% during the 2nd quarter. Aberdeen Group plc now owns 529,726 shares of the railroad operator’s stock worth $135,610,000 after purchasing an additional 31,878 shares in the last quarter. Park Place Capital Corp grew its holdings in Norfolk Southern by 13,000.0% during the 3rd quarter. Park Place Capital Corp now owns 3,668 shares of the railroad operator’s stock valued at $1,102,000 after buying an additional 3,640 shares during the last quarter. Morningstar Investment Management LLC purchased a new position in Norfolk Southern during the second quarter worth $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Norfolk Southern by 682.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock worth $14,337,000 after acquiring an additional 48,850 shares during the last quarter. Finally, Markel Group Inc. lifted its position in shares of Norfolk Southern by 8.5% in the third quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator’s stock valued at $77,055,000 after acquiring an additional 20,000 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NYSE:NSC opened at $306.77 on Thursday. The company has a market cap of $68.84 billion, a P/E ratio of 24.06, a P/E/G ratio of 5.30 and a beta of 1.34. The firm’s 50 day moving average is $291.07 and its two-hundred day moving average is $286.47. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $308.11. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 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 business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the firm posted $3.04 EPS. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

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

Insider Buying and Selling

In other news, EVP Anil Bhatt sold 900 shares of the stock in a transaction 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 owned 1,413 shares of the company’s stock, valued at $397,900.80. This represents a 38.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Jr. Clyburn bought 204 shares of Norfolk Southern stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the acquisition, the director directly owned 405 shares in the company, valued at approximately $119,389.95. This represents a 101.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research report on Friday, January 30th. Evercore ISI boosted their price objective on shares of Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Morgan Stanley raised shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Norfolk Southern in a research note on Thursday, January 22nd. Finally, Citigroup cut their price target on Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average 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.