Linscomb Wealth Inc. Boosts Stock Holdings in Norfolk Southern Corporation $NSC

Linscomb Wealth Inc. boosted its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,020 shares of the railroad operator’s stock after buying an additional 843 shares during the period. Linscomb Wealth Inc.’s holdings in Norfolk Southern were worth $10,500,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NSC. Brighton Jones LLC grew its position in shares of Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after purchasing an additional 159 shares in the last quarter. Ameritas Advisory Services LLC grew its position in shares of Norfolk Southern by 11.1% in the first quarter. Ameritas Advisory Services LLC now owns 2,585 shares of the railroad operator’s stock valued at $610,000 after purchasing an additional 258 shares in the last quarter. Mather Group LLC. grew its position in shares of Norfolk Southern by 1.9% in the first quarter. Mather Group LLC. now owns 2,995 shares of the railroad operator’s stock valued at $709,000 after purchasing an additional 55 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Norfolk Southern by 8.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,629 shares of the railroad operator’s stock valued at $7,254,000 after purchasing an additional 2,372 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.8%

NSC opened at $281.69 on Friday. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $302.24. The stock has a market capitalization of $63.21 billion, a PE ratio of 21.49, a P/E/G ratio of 2.52 and a beta of 1.33. The business’s 50 day moving average price is $285.55 and its 200 day moving average price is $264.29. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the company posted $3.25 earnings per share. The company’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, November 7th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, November 7th. Norfolk Southern’s dividend payout ratio is 41.19%.

Insider Buying and Selling

In other news, Director Richard H. Anderson purchased 2,600 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were bought at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the purchase, the director directly owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. This trade represents a 59.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of analyst reports. Evercore ISI upped their price target on Norfolk Southern from $289.00 to $298.00 in a research report on Thursday, September 25th. Sanford C. Bernstein upped their price target on Norfolk Southern from $295.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Bank of America upped their price target on Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Robert W. Baird upped their price target on Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Loop Capital upped their price objective on Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a report on Tuesday, September 16th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, Norfolk Southern presently has an average rating of “Hold” and an average price target of $299.70.

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.