Kovitz Investment Group Partners LLC Raises Stock Holdings in Norfolk Southern Corporation $NSC

Kovitz Investment Group Partners LLC boosted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,864 shares of the railroad operator’s stock after purchasing an additional 2,778 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Norfolk Southern were worth $17,683,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. OneDigital Investment Advisors LLC grew its position in shares of Norfolk Southern by 57.4% during the third quarter. OneDigital Investment Advisors LLC now owns 10,207 shares of the railroad operator’s stock worth $3,066,000 after buying an additional 3,724 shares in the last quarter. Highbridge Capital Management LLC bought a new position in Norfolk Southern during the 3rd quarter valued at $601,000. Lansforsakringar Fondforvaltning AB publ boosted its stake in Norfolk Southern by 3.1% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 71,312 shares of the railroad operator’s stock valued at $21,423,000 after acquiring an additional 2,153 shares during the last quarter. Partners in Financial Planning grew its holdings in Norfolk Southern by 6.2% during the 3rd quarter. Partners in Financial Planning now owns 9,383 shares of the railroad operator’s stock worth $2,819,000 after acquiring an additional 550 shares in the last quarter. Finally, Advyzon Investment Management LLC bought a new stake in shares of Norfolk Southern in the 3rd quarter worth about $418,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Norfolk Southern

In other news, Director William Jr. Clyburn purchased 204 shares of the stock in a transaction dated Friday, December 5th. The stock was acquired at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the transaction, the director owned 405 shares of the company’s stock, valued at approximately $119,389.95. The trade was a 101.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Norfolk Southern Stock Down 0.5%

NYSE:NSC opened at $314.56 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The stock has a 50 day moving average of $296.30 and a 200-day moving average of $289.60. The firm has a market capitalization of $70.64 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 5.62 and a beta of 1.34. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $319.94.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.04 EPS. Analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. Norfolk Southern’s payout ratio is 42.35%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Evercore increased their price target on shares of Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Morgan Stanley raised Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Norfolk Southern in a research report on Thursday, January 22nd. Barclays dropped their price target on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Wolfe Research lifted their price objective on shares of Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Seven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Norfolk Southern has an average rating of “Hold” and an average target price of $304.47.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.