Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Accredited Investors Inc.

Accredited Investors Inc. raised its position in shares of Norfolk Southern Co. (NYSE:NSC) by 28,892.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 293,406 shares of the railroad operator’s stock after purchasing an additional 292,394 shares during the period. Norfolk Southern accounts for approximately 1.8% of Accredited Investors Inc.’s holdings, making the stock its 11th biggest position. Accredited Investors Inc. owned approximately 0.13% of Norfolk Southern worth $72,911,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NSC. Aptus Capital Advisors LLC boosted its holdings in Norfolk Southern by 21.0% during the third quarter. Aptus Capital Advisors LLC now owns 6,037 shares of the railroad operator’s stock worth $1,500,000 after buying an additional 1,047 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its position in Norfolk Southern by 42.6% during the third quarter. Ashton Thomas Private Wealth LLC now owns 3,188 shares of the railroad operator’s stock valued at $792,000 after purchasing an additional 953 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Norfolk Southern by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after buying an additional 3,621 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of Norfolk Southern by 17.2% during the 3rd quarter. GSA Capital Partners LLP now owns 2,639 shares of the railroad operator’s stock valued at $656,000 after purchasing an additional 388 shares in the last quarter. Finally, Harbour Investments Inc. lifted its holdings in Norfolk Southern by 17.3% in the 3rd quarter. Harbour Investments Inc. now owns 2,377 shares of the railroad operator’s stock worth $591,000 after purchasing an additional 350 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Stephens reaffirmed an “equal weight” rating and issued a $263.00 target price on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Susquehanna lifted their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Bank of America increased their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group raised their price target on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

Norfolk Southern Stock Down 1.5 %

Shares of NYSE:NSC traded down $4.20 during midday trading on Tuesday, reaching $266.91. The company’s stock had a trading volume of 229,008 shares, compared to its average volume of 1,254,839. 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 firm has a 50 day moving average of $252.07 and a 200-day moving average of $238.05. The firm has a market capitalization of $60.39 billion, a P/E ratio of 25.46, a PEG ratio of 2.58 and a beta of 1.30. Norfolk Southern Co. has a 12-month low of $195.76 and a 12-month high of $277.60.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 20.25% and a net margin of 19.85%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.65 earnings per share. On average, research analysts anticipate that Norfolk Southern Co. will post 11.81 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is 50.70%.

Insider Activity at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of the firm’s 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 transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Sameh Fahmy bought 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

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.