Park Edge Advisors LLC Invests $229,000 in Norfolk Southern Co. (NYSE:NSC)

Park Edge Advisors LLC acquired a new stake in shares of Norfolk Southern Co. (NYSE:NSC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 922 shares of the railroad operator’s stock, valued at approximately $229,000.

Several other large investors have also recently added to or reduced their stakes in NSC. Pullen Investment Management LLC grew its stake in shares of Norfolk Southern by 2.0% in the 3rd quarter. Pullen Investment Management LLC now owns 4,394 shares of the railroad operator’s stock valued at $1,092,000 after buying an additional 86 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in Norfolk Southern by 70.7% in the third quarter. Frank Rimerman Advisors LLC now owns 3,177 shares of the railroad operator’s stock valued at $789,000 after acquiring an additional 1,316 shares during the last quarter. TCV Trust & Wealth Management Inc. grew its position in Norfolk Southern by 67.7% in the third quarter. TCV Trust & Wealth Management Inc. now owns 21,156 shares of the railroad operator’s stock worth $5,257,000 after acquiring an additional 8,539 shares in the last quarter. Clear Harbor Asset Management LLC increased its stake in shares of Norfolk Southern by 7.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 3,048 shares of the railroad operator’s stock worth $757,000 after purchasing an additional 204 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Norfolk Southern by 11.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 79,305 shares of the railroad operator’s stock valued at $19,468,000 after purchasing an additional 8,249 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Nabanita C. Nag sold 355 shares of the 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 $371,077.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern 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 directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 3,700 shares of company stock worth $921,565 over the last quarter. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on NSC shares. UBS Group raised their target price on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen raised their price objective on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday. Jefferies Financial Group upped their target price on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barclays increased their price target on Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Stifel Nicolaus boosted their price objective on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Stock Performance

Shares of NSC stock traded down $2.33 during mid-day trading on Friday, reaching $251.09. The stock had a trading volume of 1,027,380 shares, compared to its average volume of 1,259,482. Norfolk Southern Co. has a one year low of $183.76 and a one year high of $263.66. The firm has a market cap of $56.72 billion, a PE ratio of 40.43, a P/E/G ratio of 2.48 and a beta of 1.31. The firm’s 50 day simple moving average is $249.22 and its 200 day simple moving average is $236.88. The company has a quick ratio of 0.54, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the company earned $2.65 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that Norfolk Southern Co. will post 11.78 EPS for the current 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 $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

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.