Norfolk Southern Corporation $NSC Shares Acquired by Harold Davidson & Associates Inc.

Harold Davidson & Associates Inc. boosted its stake in Norfolk Southern Corporation (NYSE:NSC) by 50.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,535 shares of the railroad operator’s stock after purchasing an additional 2,202 shares during the quarter. Norfolk Southern comprises 0.9% of Harold Davidson & Associates Inc.’s portfolio, making the stock its 26th largest position. Harold Davidson & Associates Inc.’s holdings in Norfolk Southern were worth $1,963,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC grew its position in Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after acquiring an additional 36 shares during the period. Westside Investment Management Inc. grew its holdings in shares of Norfolk Southern by 207.1% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after purchasing an additional 58 shares during the period. MMA Asset Management LLC acquired a new stake in Norfolk Southern during the 3rd quarter worth approximately $28,000. BNP Paribas acquired a new stake in Norfolk Southern during the 2nd quarter worth approximately $26,000. Finally, Highline Wealth Partners LLC raised its holdings in Norfolk Southern by 68.9% in the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock valued at $31,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NSC. Morgan Stanley raised shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Royal Bank Of Canada decreased their price target on shares of Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating for the company in a research report on Friday, January 30th. Susquehanna raised their price objective on Norfolk Southern from $304.00 to $305.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Norfolk Southern in a research report on Thursday, January 22nd. Finally, UBS Group downgraded Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price on the stock. in a report on Friday, February 6th. Seven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and an average price target of $304.47.

Insider Buying and Selling

In other Norfolk Southern news, Director William Jr. Clyburn acquired 204 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was purchased at an average price of $294.79 per share, with a total value of $60,137.16. Following the completion of the acquisition, the director directly owned 405 shares in the company, valued at $119,389.95. This trade represents a 101.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $316.94 on Thursday. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $319.94. 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 market cap of $71.17 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 5.62 and a beta of 1.34. The stock has a 50 day moving average of $295.20 and a 200-day moving average of $288.81.

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

Norfolk Southern Announces Dividend

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

Norfolk Southern Profile

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.