Norfolk Southern Corporation $NSC Shares Purchased by Linscomb Wealth Inc.

Linscomb Wealth Inc. lifted its holdings in Norfolk Southern Corporation (NYSE:NSC) by 2.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,020 shares of the railroad operator’s stock after purchasing an additional 843 shares during the quarter. Linscomb Wealth Inc.’s holdings in Norfolk Southern were worth $10,500,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after purchasing an additional 159 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in Norfolk Southern by 11.1% during the 1st quarter. Ameritas Advisory Services LLC now owns 2,585 shares of the railroad operator’s stock valued at $610,000 after purchasing an additional 258 shares during the last quarter. Mather Group LLC. grew its stake in Norfolk Southern by 1.9% during the 1st quarter. Mather Group LLC. now owns 2,995 shares of the railroad operator’s stock valued at $709,000 after purchasing an additional 55 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Norfolk Southern by 8.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,629 shares of the railroad operator’s stock valued at $7,254,000 after purchasing an additional 2,372 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the topic of several research analyst reports. Bank of America boosted their price target on Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Evercore ISI boosted their price target on Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price target on shares of Norfolk Southern in a research note on Friday, July 25th. Weiss Ratings downgraded Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Citigroup decreased their price objective on Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and an average price target of $299.70.

Insiders Place Their Bets

In other Norfolk Southern news, Director Richard H. Anderson purchased 2,600 shares of Norfolk Southern stock in a transaction that occurred on Monday, October 27th. The stock was bought at an average price of $281.86 per share, with a total value of $732,836.00. Following the acquisition, the director owned 7,000 shares of the company’s stock, valued at $1,973,020. This trade represents a 59.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $281.69 on Friday. The stock has a market cap of $63.21 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. The business has a 50-day simple moving average of $285.55 and a 200-day simple moving average of $264.29. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $302.24.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.25 EPS. On average, equities analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, November 7th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s dividend payout ratio is presently 41.19%.

About Norfolk Southern

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, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; 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.