Norfolk Southern Corporation $NSC Shares Bought by Mission Wealth Management LP

Mission Wealth Management LP lifted its position in Norfolk Southern Corporation (NYSE:NSC) by 26.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,849 shares of the railroad operator’s stock after acquiring an additional 1,008 shares during the quarter. Mission Wealth Management LP’s holdings in Norfolk Southern were worth $1,241,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Norfolk Southern by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock valued at $2,680,910,000 after buying an additional 2,710,930 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at about $321,393,000. Adage Capital Partners GP L.L.C. boosted its stake in Norfolk Southern by 341.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator’s stock valued at $187,100,000 after acquiring an additional 611,198 shares during the period. Nuveen LLC acquired a new position in Norfolk Southern in the first quarter valued at approximately $122,256,000. Finally, Phoenix Financial Ltd. acquired a new position in Norfolk Southern in the first quarter valued at approximately $110,209,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NSC stock opened at $282.46 on Tuesday. The company has a market capitalization of $63.38 billion, a P/E ratio of 21.55, a PEG ratio of 2.52 and a beta of 1.33. The company has a 50-day simple moving average of $285.65 and a 200 day simple moving average of $265.86. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $302.24. 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 (NYSE:NSC) last issued 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 company 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 company’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $3.25 earnings per share. Sell-side analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Analyst Ratings Changes

NSC has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Norfolk Southern from $288.00 to $303.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Evercore ISI boosted their price target on shares of Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Robert W. Baird boosted their price target on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. UBS Group reduced their price target on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a report on Friday, October 24th. Finally, Bank of America boosted their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $299.70.

Insider Buying and Selling at Norfolk Southern

In other news, Director Richard H. Anderson acquired 2,600 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was acquired at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the acquisition, the director directly owned 7,000 shares in the company, valued at $1,973,020. This represents a 59.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by company insiders.

Norfolk Southern Company 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, 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.