TCV Trust & Wealth Management Inc. Has $5.26 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

TCV Trust & Wealth Management Inc. increased its stake in Norfolk Southern Co. (NYSE:NSC) by 67.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,156 shares of the railroad operator’s stock after purchasing an additional 8,539 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Norfolk Southern were worth $5,257,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 1st quarter worth $27,000. 1620 Investment Advisors Inc. bought a new stake in Norfolk Southern during the second quarter valued at about $27,000. Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $31,000. HWG Holdings LP bought a new position in shares of Norfolk Southern in the second quarter worth about $31,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Norfolk Southern during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $251.09 on Friday. Norfolk Southern Co. has a 52-week low of $183.76 and a 52-week high of $263.66. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.54. The stock has a fifty day moving average price of $249.22 and a two-hundred day moving average price of $236.88. The firm has a market capitalization of $56.72 billion, a P/E ratio of 40.43, a P/E/G ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced 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 during the quarter, compared to the consensus estimate 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 last year, the firm posted $2.65 EPS. As a group, analysts anticipate that Norfolk Southern Co. will post 11.78 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be given a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 700 shares of Norfolk Southern stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares in the company, valued at $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Sameh Fahmy acquired 700 shares of the stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the transaction, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 3,700 shares of company stock valued at $921,565 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on NSC shares. Susquehanna lifted their price target on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday. Benchmark boosted their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday. Loop Capital increased their price target on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America boosted their price objective on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. 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, Norfolk Southern currently has an average rating of “Moderate Buy” and an average target price of $274.16.

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.