PBMares Wealth Management LLC Takes Position in Norfolk Southern Co. (NYSE:NSC)

PBMares Wealth Management LLC acquired a new stake in Norfolk Southern Co. (NYSE:NSC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 832 shares of the railroad operator’s stock, valued at approximately $207,000.

Several other hedge funds also recently modified their holdings of NSC. Boston Partners grew its holdings in shares of Norfolk Southern by 157.1% in the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock valued at $735,749,000 after acquiring an additional 1,766,135 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Norfolk Southern by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after acquiring an additional 1,088,072 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares in the last quarter. American Century Companies Inc. grew its holdings in Norfolk Southern by 17.3% during the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after purchasing an additional 496,088 shares during the period. Finally, EdgePoint Investment Group Inc. grew its holdings in Norfolk Southern by 10.2% during the first quarter. EdgePoint Investment Group Inc. now owns 3,752,050 shares of the railroad operator’s stock worth $956,285,000 after purchasing an additional 347,852 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.4 %

NSC stock traded up $1.10 during mid-day trading on Tuesday, reaching $254.69. 160,815 shares of the company traded hands, compared to its average volume of 1,252,673. The stock has a market cap of $57.62 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 2.38 and a beta of 1.31. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a fifty-two week low of $184.62 and a fifty-two week high of $263.66. The firm’s 50 day moving average price is $249.47 and its 200 day moving average price is $236.82.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 EPS. As a group, equities research analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.12%. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NSC shares. Bank of America raised their price objective on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Loop Capital raised their target price on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised their target price on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $274.16.

Insiders Place Their Bets

In other Norfolk Southern news, 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 transaction of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sameh Fahmy purchased 700 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the acquisition, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern 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.