Stifel Financial Corp Purchases 55,694 Shares of Norfolk Southern Co. (NYSE:NSC)

Stifel Financial Corp raised its position in Norfolk Southern Co. (NYSE:NSC) by 5.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,138,853 shares of the railroad operator’s stock after acquiring an additional 55,694 shares during the period. Stifel Financial Corp owned about 0.50% of Norfolk Southern worth $283,013,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Quantinno Capital Management LP increased its position in shares of Norfolk Southern by 69.3% during the 3rd quarter. Quantinno Capital Management LP now owns 9,843 shares of the railroad operator’s stock worth $2,446,000 after purchasing an additional 4,030 shares during the last quarter. Morse Asset Management Inc acquired a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $30,000. Investment Management Corp of Ontario increased its position in shares of Norfolk Southern by 47.5% during the 3rd quarter. Investment Management Corp of Ontario now owns 7,457 shares of the railroad operator’s stock worth $1,853,000 after purchasing an additional 2,400 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $207,830,000. Finally, Hilltop Holdings Inc. increased its position in shares of Norfolk Southern by 34.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 2,830 shares of the railroad operator’s stock worth $703,000 after purchasing an additional 724 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In other news, Director Sameh Fahmy bought 1,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was acquired at an average cost 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 $2,550,000. This represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction 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 completion of the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents 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 currently owned by insiders.

Norfolk Southern Price Performance

Shares of NSC stock opened at $267.63 on Thursday. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The business has a fifty day simple moving average of $258.12 and a 200 day simple moving average of $242.31. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The company has a market cap of $60.55 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.56 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (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 business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.02%. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NSC. UBS Group boosted their target price on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Loop Capital boosted their target price on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group boosted their target price on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.