Alps Advisors Inc. Grows Stake in Norfolk Southern Corporation $NSC

Alps Advisors Inc. boosted its stake in Norfolk Southern Corporation (NYSE:NSC) by 347.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,928 shares of the railroad operator’s stock after buying an additional 5,379 shares during the quarter. Alps Advisors Inc.’s holdings in Norfolk Southern were worth $2,081,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NSC. Canada Post Corp Registered Pension Plan raised its holdings in shares of Norfolk Southern by 31.3% during the third quarter. Canada Post Corp Registered Pension Plan now owns 4,907 shares of the railroad operator’s stock valued at $1,470,000 after acquiring an additional 1,170 shares during the last quarter. MMA Asset Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter worth approximately $28,000. Capital Investment Advisory Services LLC raised its stake in Norfolk Southern by 2.6% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 2,611 shares of the railroad operator’s stock valued at $784,000 after purchasing an additional 66 shares during the last quarter. Aurdan Capital Management LLC acquired a new position in Norfolk Southern in the 3rd quarter valued at $203,000. Finally, Waterloo Capital L.P. purchased a new position in Norfolk Southern in the 3rd quarter valued at $209,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NSC shares. Morgan Stanley upgraded shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Norfolk Southern in a research note on Thursday, January 22nd. Sanford C. Bernstein cut their price objective on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. TD Cowen lowered their target price on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Finally, Robert W. Baird cut their price target on Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $304.47.

Norfolk Southern Stock Performance

NYSE NSC opened at $315.96 on Wednesday. The stock has a fifty day simple moving average of $292.49 and a 200-day simple moving average of $287.34. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The stock has a market cap of $70.90 billion, a PE ratio of 24.78, a P/E/G ratio of 5.44 and a beta of 1.34. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $316.24.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) 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 analyst estimates of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. Norfolk Southern’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.04 EPS. Equities analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is presently 42.35%.

Insider Activity at Norfolk Southern

In other news, Director William Jr. Clyburn bought 204 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 405 shares in the company, valued at $119,389.95. This trade represents a 101.49% 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, 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 value of $253,440.00. Following the completion of the sale, the executive vice president directly owned 1,413 shares in the company, valued at approximately $397,900.80. The trade was a 38.91% decrease in their position. The SEC filing for this sale provides additional information. 0.06% of the stock is currently owned by company insiders.

About Norfolk Southern

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.