Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Pitcairn Co.

Pitcairn Co. lifted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 16.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,946 shares of the railroad operator’s stock after acquiring an additional 978 shares during the period. Pitcairn Co.’s holdings in Norfolk Southern were worth $1,726,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth about $25,000. 1620 Investment Advisors Inc. acquired a new position in Norfolk Southern during the second quarter worth approximately $27,000. Coastline Trust Co acquired a new position in Norfolk Southern during the third quarter worth approximately $32,000. Capital Performance Advisors LLP acquired a new position in Norfolk Southern during the third quarter worth approximately $33,000. Finally, Financial Connections Group Inc. acquired a new position in Norfolk Southern during the second quarter worth approximately $31,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling

In other news, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were bought at an average price of $255.00 per share, with a total value of $255,000.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value 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 represents a 59.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $268.95 on Friday. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The business has a 50 day moving average price of $253.90 and a two-hundred day moving average price of $239.90. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The firm 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 released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business posted $2.65 EPS. Norfolk Southern’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were issued 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 dividend payout ratio (DPR) is 50.70%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NSC. Citigroup lifted their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stephens reiterated an “equal weight” rating and issued a $263.00 target price on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Sanford C. Bernstein lifted their price target on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Bank of America lifted their price target on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.