Frank Rimerman Advisors LLC Increases Holdings in Norfolk Southern Co. (NYSE:NSC)

Frank Rimerman Advisors LLC boosted its position in Norfolk Southern Co. (NYSE:NSC) by 70.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,177 shares of the railroad operator’s stock after buying an additional 1,316 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Norfolk Southern were worth $789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Boston Partners lifted its stake in Norfolk Southern by 157.1% in the first quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after purchasing an additional 1,766,135 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Norfolk Southern by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after acquiring an additional 1,088,072 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares during the period. American Century Companies Inc. grew its position in Norfolk Southern by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after acquiring an additional 496,088 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its stake in Norfolk Southern by 10.2% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,752,050 shares of the railroad operator’s stock worth $956,285,000 after purchasing an additional 347,852 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Down 0.9 %

Shares of Norfolk Southern stock opened at $251.09 on Monday. Norfolk Southern Co. has a 1 year low of $183.76 and a 1 year 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 company has a 50-day moving average of $249.22 and a 200 day moving average of $236.79. The firm has a market cap of $56.72 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its 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 analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $2.65 earnings per share. As a group, sell-side analysts anticipate that Norfolk Southern Co. will post 11.78 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.15%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NSC. Wells Fargo & Company raised their target price on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley reissued an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a report on Monday, July 8th. Susquehanna upped their price objective on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Bank of America raised their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $274.16.

Insider Activity

In other news, Director Sameh Fahmy purchased 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern 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 owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sameh Fahmy purchased 700 shares of the stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

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.