EFG Asset Management Americas Corp. Purchases 3,373 Shares of Norfolk Southern Co. (NYSE:NSC)

EFG Asset Management Americas Corp. boosted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 74.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,882 shares of the railroad operator’s stock after purchasing an additional 3,373 shares during the period. EFG Asset Management Americas Corp.’s holdings in Norfolk Southern were worth $1,692,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC grew its stake in Norfolk Southern by 2.6% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock worth $397,000 after acquiring an additional 43 shares in the last quarter. Gryphon Financial Partners LLC grew its stake in Norfolk Southern by 7.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,840 shares of the railroad operator’s stock worth $672,000 after acquiring an additional 198 shares in the last quarter. Principal Securities Inc. bought a new position in Norfolk Southern in the 4th quarter worth about $645,000. Accredited Investors Inc. bought a new position in shares of Norfolk Southern during the fourth quarter valued at approximately $239,000. Finally, Northwest Financial Advisors bought a new position in shares of Norfolk Southern during the fourth quarter valued at approximately $56,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock traded down $2.75 during trading on Friday, hitting $250.01. 732,941 shares of the company’s stock were exchanged, compared to its average volume of 1,265,777. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The business has a 50-day simple moving average of $236.56 and a 200-day simple moving average of $238.30. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The stock has a market capitalization of $56.48 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.50 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the company posted $2.95 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts forecast that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were given a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.16%. Norfolk Southern’s dividend payout ratio is presently 86.96%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Susquehanna increased their price objective on shares of Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company increased their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Royal Bank of Canada dropped their price objective on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Barclays decreased their target price on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Finally, Benchmark increased their target price on shares of Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $264.24.

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the transaction, the director now owns 7,000 shares in the company, valued at $1,534,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sameh Fahmy bought 2,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the transaction, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the sale, the executive vice president now owns 1,488 shares in the company, valued at approximately $371,077.44. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 4,700 shares of company stock worth $1,105,065. 0.19% of the stock is owned by company insiders.

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.