Norfolk Southern Corporation $NSC Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in Norfolk Southern Corporation (NYSE:NSC) by 36.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,744 shares of the railroad operator’s stock after acquiring an additional 3,391 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Norfolk Southern were worth $3,828,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in NSC. ORG Partners LLC raised its holdings in Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after purchasing an additional 36 shares during the last quarter. Westside Investment Management Inc. grew its holdings in Norfolk Southern by 207.1% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after purchasing an additional 58 shares during the last quarter. BNP Paribas purchased a new position in shares of Norfolk Southern in the second quarter valued at $26,000. True Wealth Design LLC raised its stake in shares of Norfolk Southern by 423.8% during the 2nd quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after buying an additional 89 shares during the last quarter. Finally, MMA Asset Management LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth about $28,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $317.56 on Thursday. The business has a 50-day moving average of $292.96 and a two-hundred day moving average of $287.55. The firm has a market capitalization of $71.31 billion, a PE ratio of 24.91, a P/E/G ratio of 5.61 and a beta of 1.34. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $318.65.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.04 EPS. As a group, research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 6th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, February 6th. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Insider Buying and Selling at Norfolk Southern

In related news, Director William Jr. Clyburn purchased 204 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was purchased at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the acquisition, the director owned 405 shares in the company, valued at approximately $119,389.95. This trade represents a 101.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anil Bhatt sold 900 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total transaction of $253,440.00. Following the completion of the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at $397,900.80. This trade represents a 38.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NSC. Barclays cut their target price on shares of Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Evercore lifted their price objective on Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Robert W. Baird reduced their target price on Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. JPMorgan Chase & Co. dropped their price target on Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Finally, Sanford C. Bernstein cut their price target on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Seven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and a consensus price target 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.