Norfolk Southern Corporation $NSC Stock Position Lifted by Simon Quick Advisors LLC

Simon Quick Advisors LLC boosted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 22.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,645 shares of the railroad operator’s stock after purchasing an additional 303 shares during the period. Simon Quick Advisors LLC’s holdings in Norfolk Southern were worth $421,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. WPG Advisers LLC bought a new stake in Norfolk Southern in the first quarter worth approximately $27,000. Financial Gravity Asset Management Inc. bought a new stake in Norfolk Southern in the first quarter worth approximately $41,000. Golden State Wealth Management LLC grew its position in Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock worth $42,000 after acquiring an additional 159 shares in the last quarter. Pinnacle Bancorp Inc. grew its position in Norfolk Southern by 30.5% in the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after acquiring an additional 43 shares in the last quarter. Finally, Chung Wu Investment Group LLC bought a new stake in Norfolk Southern in the second quarter worth approximately $51,000. 75.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NSC has been the subject of several recent research reports. BMO Capital Markets boosted their target price on shares of Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Barclays boosted their target price on shares of Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. UBS Group reduced their price objective on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Robert W. Baird boosted their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Loop Capital boosted their price objective on shares of Norfolk Southern from $235.00 to $278.00 and gave the stock a “hold” rating in a research note 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $299.70.

Insider Buying and Selling

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

Norfolk Southern Price Performance

NYSE:NSC opened at $283.91 on Monday. The stock has a market cap of $63.71 billion, a P/E ratio of 21.66, a PEG ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $302.24. The company has a fifty day moving average price of $285.55 and a 200 day moving average price of $265.42. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.01). The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. Norfolk Southern’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.25 earnings per share. Analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

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

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.