PFS Investments Inc. raised its holdings in shares of Norfolk Southern Co. (NYSE:NSC – Get Rating) by 25.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,158 shares of the railroad operator’s stock after purchasing an additional 5,388 shares during the period. PFS Investments Inc.’s holdings in Norfolk Southern were worth $7,460,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vectors Research Management LLC increased its stake in shares of Norfolk Southern by 468.8% during the fourth quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Blume Capital Management Inc. bought a new stake in shares of Norfolk Southern during the first quarter valued at approximately $29,000. Concord Wealth Partners increased its position in shares of Norfolk Southern by 2,300.0% during the first quarter. Concord Wealth Partners now owns 120 shares of the railroad operator’s stock valued at $34,000 after acquiring an additional 115 shares in the last quarter. Worth Asset Management LLC bought a new stake in shares of Norfolk Southern during the first quarter valued at approximately $30,000. Finally, Rational Advisors LLC bought a new stake in shares of Norfolk Southern during the first quarter valued at approximately $36,000. Institutional investors own 73.44% of the company’s stock.
Insider Transactions at Norfolk Southern
In other news, Director James A. Squires sold 105,420 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $248.81, for a total value of $26,229,550.20. Following the sale, the director now directly owns 42,728 shares in the company, valued at approximately $10,631,153.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.
Norfolk Southern Stock Performance
Norfolk Southern (NYSE:NSC – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The railroad operator reported $3.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.03). The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.14 billion. Norfolk Southern had a net margin of 25.57% and a return on equity of 22.42%. The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.28 earnings per share. As a group, analysts anticipate that Norfolk Southern Co. will post 13.66 EPS for the current fiscal year.
Norfolk Southern Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Saturday, August 20th. Shareholders of record on Monday, August 8th were issued a $1.24 dividend. The ex-dividend date was Friday, August 5th. This represents a $4.96 dividend on an annualized basis and a yield of 1.99%. Norfolk Southern’s dividend payout ratio is currently 39.49%.
Analysts Set New Price Targets
A number of equities research analysts have commented on NSC shares. Susquehanna cut their target price on shares of Norfolk Southern from $350.00 to $275.00 in a research report on Wednesday, July 6th. Citigroup downgraded shares of Norfolk Southern from a “buy” rating to a “neutral” rating and cut their target price for the stock from $345.00 to $260.00 in a research report on Thursday, May 19th. Evercore ISI cut their target price on shares of Norfolk Southern from $278.00 to $266.00 and set an “outperform” rating for the company in a research report on Tuesday, July 12th. Stephens cut their target price on shares of Norfolk Southern from $244.00 to $243.00 and set an “equal weight” rating for the company in a research report on Thursday, July 28th. Finally, Stifel Nicolaus raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and cut their target price for the stock from $289.00 to $275.00 in a research report on Friday, July 15th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and an average target price of $283.10.
Norfolk Southern 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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.
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