Charles Schwab Investment Management Inc. Acquires 19,394 Shares of Norfolk Southern Co. (NYSE:NSC)

Charles Schwab Investment Management Inc. boosted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,373,909 shares of the railroad operator’s stock after acquiring an additional 19,394 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Norfolk Southern were worth $341,416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Norfolk Southern by 20.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after buying an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Norfolk Southern by 0.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after purchasing an additional 3,621 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Norfolk Southern by 25,181.8% during the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares during the period. Seven Eight Capital LP bought a new position in shares of Norfolk Southern in the second quarter worth about $1,676,000. Finally, Dakota Wealth Management lifted its holdings in Norfolk Southern by 2.1% during the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock valued at $1,791,000 after buying an additional 150 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction 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 completion of 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 59.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sameh Fahmy purchased 1,000 shares of the stock in a transaction on Thursday, October 24th. The stock was acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. The trade was a 11.11 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Trading Up 1.8 %

Shares of NYSE:NSC opened at $268.95 on Friday. The business’s 50-day moving average is $253.90 and its 200 day moving average is $239.85. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The firm has a market capitalization of $60.85 billion, a P/E ratio of 25.25, a P/E/G ratio of 2.51 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the firm posted $2.65 EPS. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. On average, research analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal 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 given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s payout ratio is 50.70%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada upped their target price 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. UBS Group raised their price objective on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Stephens reaffirmed an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a research report on Wednesday, October 23rd. Benchmark raised their price target on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their price objective on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.68.

About Norfolk Southern

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.