Howe & Rusling Inc. Has $5.45 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Howe & Rusling Inc. lifted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,914 shares of the railroad operator’s stock after buying an additional 351 shares during the quarter. Howe & Rusling Inc.’s holdings in Norfolk Southern were worth $5,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NSC. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Norfolk Southern by 20.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after acquiring an additional 2,453 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings 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 acquiring an additional 3,621 shares during the period. Pathway Financial Advisers LLC lifted its position in 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. Seven Eight Capital LP bought a new stake in Norfolk Southern in the 2nd quarter valued at $1,676,000. Finally, Dakota Wealth Management boosted its stake in Norfolk Southern by 2.1% in the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after purchasing an additional 150 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $259.71 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $58.76 billion, a P/E ratio of 24.39, a P/E/G ratio of 2.48 and a beta of 1.30. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The stock has a 50 day moving average of $253.14 and a 200-day moving average of $239.27.

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

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.08%. Norfolk Southern’s payout ratio is 50.70%.

Insider Activity at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of the company’s 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 completion of the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 59.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Sanford C. Bernstein boosted their price target on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Benchmark boosted their target price on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI decreased their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Barclays raised their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average price target 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.