Norfolk Southern Co. (NYSE:NSC) Position Increased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in Norfolk Southern Co. (NYSE:NSC) by 0.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 604,019 shares of the railroad operator’s stock after purchasing an additional 2,676 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Norfolk Southern were worth $150,099,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Lake Street Advisors Group LLC boosted its holdings in shares of Norfolk Southern by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after buying an additional 41 shares during the period. Hall Capital Management Co. Inc. increased its holdings in shares of Norfolk Southern by 2.8% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after purchasing an additional 42 shares during the period. Blue Chip Partners LLC lifted its position in Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock worth $1,656,000 after buying an additional 42 shares in the last quarter. Stephens Consulting LLC boosted its stake in shares of Norfolk Southern by 12.4% during the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after buying an additional 42 shares during the period. Finally, Foster Victor Wealth Advisors LLC grew its holdings in shares of Norfolk Southern by 4.2% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In other Norfolk Southern news, Director Sameh Fahmy purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $268.95 on Friday. The firm has a fifty day moving average price of $253.90 and a two-hundred day moving average price of $239.90. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The company has a market cap of $60.85 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 2.51 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company posted $2.65 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were paid a $1.35 dividend. The ex-dividend date was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.01%. Norfolk Southern’s payout ratio is 50.70%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Susquehanna upped their target price on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada increased their price target on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Benchmark raised their price target on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Stephens reiterated an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.