Shorepoint Capital Partners LLC Makes New $806,000 Investment in Norfolk Southern Corporation $NSC

Shorepoint Capital Partners LLC bought a new stake in Norfolk Southern Corporation (NYSE:NSC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,684 shares of the railroad operator’s stock, valued at approximately $806,000.

A number of other institutional investors have also recently bought and sold shares of the business. Aberdeen Group plc grew its position in shares of Norfolk Southern by 6.4% during the 2nd quarter. Aberdeen Group plc now owns 529,726 shares of the railroad operator’s stock valued at $135,610,000 after acquiring an additional 31,878 shares during the period. Morningstar Investment Management LLC bought a new stake in shares of Norfolk Southern in the second quarter valued at $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Norfolk Southern by 682.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock valued at $14,337,000 after buying an additional 48,850 shares during the last quarter. West Family Investments Inc. bought a new position in shares of Norfolk Southern during the 2nd quarter worth $260,000. Finally, Teacher Retirement System of Texas increased its holdings in Norfolk Southern by 10.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 116,795 shares of the railroad operator’s stock worth $29,896,000 after acquiring an additional 10,990 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

NSC has been the topic of several recent research reports. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a report on Monday, October 27th. Susquehanna upped their price target on shares of Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. JPMorgan Chase & Co. raised their price objective on shares of Norfolk Southern from $288.00 to $303.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Royal Bank Of Canada reduced their price objective on shares of Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a research note on Friday, October 24th. Finally, Evercore ISI increased their target price on Norfolk Southern from $289.00 to $298.00 in a research report on Thursday, September 25th. Six research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and an average target price of $297.90.

Norfolk Southern Stock Up 0.9%

NSC opened at $299.66 on Tuesday. The firm has a market capitalization of $67.24 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 2.72 and a beta of 1.32. 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 $287.92 and a 200-day moving average price of $277.85. 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 issued its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the business posted $3.25 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Friday, November 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, November 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 41.19%.

Insider Activity at Norfolk Southern

In related news, Director William Jr. Clyburn purchased 204 shares of the business’s stock in a transaction on Friday, December 5th. The stock was acquired at an average price of $294.79 per share, with a total value of $60,137.16. Following the purchase, the director directly owned 405 shares in the company, valued at approximately $119,389.95. This represents a 101.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard H. Anderson acquired 2,600 shares of the stock in a transaction dated Monday, October 27th. The shares were bought at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the transaction, the director owned 7,000 shares in the company, valued at approximately $1,973,020. This represents a 59.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 4,454 shares of company stock valued at $1,259,874. Company insiders own 0.06% of the company’s stock.

Norfolk Southern Company 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.