Mizuho Securities USA LLC Boosts Position in Norfolk Southern Co. (NYSE:NSC)

Mizuho Securities USA LLC raised its position in Norfolk Southern Co. (NYSE:NSC) by 18,831.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,298,000 shares of the railroad operator’s stock after purchasing an additional 3,280,579 shares during the period. Norfolk Southern comprises approximately 2.1% of Mizuho Securities USA LLC’s portfolio, making the stock its 12th biggest holding. Mizuho Securities USA LLC’s holdings in Norfolk Southern were worth $819,553,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NSC. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern in the third quarter valued at $25,000. Cedar Wealth Management LLC acquired a new position in shares of Norfolk Southern in the first quarter valued at approximately $27,000. 1620 Investment Advisors Inc. purchased a new position in shares of Norfolk Southern during the second quarter valued at approximately $27,000. Coastline Trust Co acquired a new stake in Norfolk Southern during the third quarter worth approximately $32,000. Finally, Capital Performance Advisors LLP acquired a new stake in Norfolk Southern during the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This trade represents a 59.42 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NSC. Citigroup increased their price target on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen raised their price target on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Stephens reaffirmed an “equal weight” rating and set a $263.00 price objective on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Benchmark upped their price target on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Price Performance

NSC stock opened at $261.27 on Friday. The company has a market capitalization of $59.11 billion, a PE ratio of 24.53, a P/E/G ratio of 2.55 and a beta of 1.30. 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 stock’s 50 day moving average is $252.99 and its two-hundred day moving average is $238.78. Norfolk Southern Co. has a 52-week low of $205.70 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion for 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 firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.65 earnings per share. Analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

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.