National Pension Service Boosts Stock Position in Norfolk Southern Co. (NYSE:NSC)

National Pension Service grew its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 16.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 520,820 shares of the railroad operator’s stock after buying an additional 72,198 shares during the period. National Pension Service owned 0.23% of Norfolk Southern worth $129,424,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Norfolk Southern by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after buying an additional 2,453 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after purchasing an additional 889,925 shares in the last quarter. Seven Eight Capital LP purchased a new position in Norfolk Southern in the 2nd quarter worth approximately $1,676,000. Dakota Wealth Management lifted its holdings in Norfolk Southern by 2.1% in the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after purchasing an additional 150 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in Norfolk Southern in the 2nd quarter worth approximately $13,627,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $247.59 on Tuesday. The stock’s fifty day moving average is $250.49 and its two-hundred day moving average is $237.10. The company has a market capitalization of $56.01 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 2.37 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. Norfolk Southern Co. has a 52 week low of $192.53 and a 52 week high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Norfolk Southern’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.65 EPS. As a group, analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Insider Buying and Selling

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sameh Fahmy bought 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group boosted their price target on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada boosted their price target on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Barclays boosted their price target on Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Benchmark lifted their price objective on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $274.16.

About Norfolk Southern

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.