Norfolk Southern Corporation $NSC Position Boosted by Cresset Asset Management LLC

Cresset Asset Management LLC raised its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 7.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 40,847 shares of the railroad operator’s stock after purchasing an additional 2,834 shares during the quarter. Cresset Asset Management LLC’s holdings in Norfolk Southern were worth $12,271,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NSC. Tritonpoint Wealth LLC increased its holdings in shares of Norfolk Southern by 3.5% in the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock valued at $313,000 after acquiring an additional 35 shares during the last quarter. Massachusetts Wealth Management boosted its holdings in Norfolk Southern by 0.6% in the third quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock worth $1,798,000 after purchasing an additional 35 shares during the period. ORG Partners LLC increased its stake 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 purchasing an additional 36 shares during the last quarter. Horan Securities Inc. increased its stake in Norfolk Southern by 2.1% during the second quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock valued at $452,000 after purchasing an additional 37 shares during the last quarter. Finally, Inspirion Wealth Advisors LLC raised its holdings in shares of Norfolk Southern by 1.9% during the third quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator’s stock worth $603,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In related news, Director William Jr. Clyburn bought 204 shares of the stock in a transaction on Friday, December 5th. The shares were purchased at an average price of $294.79 per share, with a total value of $60,137.16. Following the purchase, the director 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 document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NSC shares. Argus raised shares of Norfolk Southern to a “hold” rating in a report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Norfolk Southern in a report on Thursday, January 22nd. Royal Bank Of Canada lowered their target price on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating for the company in a report on Friday, January 30th. 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, Morgan Stanley upgraded Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Seven investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $304.47.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $317.79 on Thursday. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $319.94. The company has a market cap of $71.37 billion, a PE ratio of 24.92, a P/E/G ratio of 5.73 and a beta of 1.31. The stock has a 50 day simple moving average of $299.48 and a 200-day simple moving average of $291.25. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06.

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

Norfolk Southern Dividend Announcement

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