New York Life Investment Management LLC Acquires 33,493 Shares of Norfolk Southern Corporation $NSC

New York Life Investment Management LLC boosted its stake in Norfolk Southern Corporation (NYSE:NSC) by 109.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,135 shares of the railroad operator’s stock after acquiring an additional 33,493 shares during the period. New York Life Investment Management LLC’s holdings in Norfolk Southern were worth $19,267,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSC. Fielder Capital Group LLC bought a new position in shares of Norfolk Southern during the 3rd quarter valued at approximately $202,000. Signature Estate & Investment Advisors LLC lifted its stake in Norfolk Southern by 71.2% in the third quarter. Signature Estate & Investment Advisors LLC now owns 3,197 shares of the railroad operator’s stock valued at $960,000 after purchasing an additional 1,330 shares during the last quarter. Lowe Brockenbrough & Co. Inc. grew its holdings in Norfolk Southern by 3.6% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 63,103 shares of the railroad operator’s stock valued at $18,957,000 after purchasing an additional 2,222 shares during the period. Azzad Asset Management Inc. ADV purchased a new stake in Norfolk Southern in the third quarter worth $1,550,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Norfolk Southern by 20.5% in the third quarter. Smartleaf Asset Management LLC now owns 4,545 shares of the railroad operator’s stock valued at $1,362,000 after buying an additional 772 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William Jr. Clyburn acquired 204 shares of the stock in a transaction dated Friday, December 5th. The shares were purchased at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the transaction, the director owned 405 shares in the company, valued at $119,389.95. This represents a 101.49% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Anil Bhatt sold 900 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total transaction of $253,440.00. Following the completion of the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at $397,900.80. This trade represents a 38.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

NSC has been the subject of several recent research reports. Barclays decreased their price objective on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, January 30th. UBS Group downgraded shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price for the company. in a research note on Friday. Susquehanna upped their price target on shares of Norfolk Southern from $304.00 to $305.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Royal Bank Of Canada lowered their target price on shares of Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating on the stock in a report on Friday, January 30th. Finally, Wolfe Research raised their price target on Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Hold” and an average price target of $304.47.

Norfolk Southern Trading Down 0.1%

Shares of NSC stock opened at $306.64 on Monday. The company has a market capitalization of $68.81 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 5.45 and a beta of 1.34. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $309.21. The business’s fifty day moving average is $291.69 and its 200 day moving average is $286.91. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.46. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.04 EPS. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

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.