Norfolk Southern Corporation $NSC Holdings Raised by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. increased its stake in Norfolk Southern Corporation (NYSE:NSC) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,103 shares of the railroad operator’s stock after purchasing an additional 2,222 shares during the quarter. Norfolk Southern makes up 1.0% of Lowe Brockenbrough & Co. Inc.’s investment portfolio, making the stock its 25th largest holding. Lowe Brockenbrough & Co. Inc.’s holdings in Norfolk Southern were worth $18,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NSC. ORG Partners LLC raised its holdings in shares of 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 position in 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 in the last quarter. MMA Asset Management LLC acquired a new stake in Norfolk Southern during the 3rd quarter valued at $28,000. BNP Paribas purchased a new stake in shares of Norfolk Southern in the second quarter valued at $26,000. Finally, Highline Wealth Partners LLC boosted its position in shares of Norfolk Southern by 68.9% in the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock worth $31,000 after buying an additional 42 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 0.1%

Shares of NYSE NSC opened at $306.64 on Friday. The business has a 50 day simple moving average of $291.69 and a 200 day simple moving average of $286.86. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $309.21. The stock has a market cap of $68.81 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 5.45 and a beta of 1.34. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85.

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

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, February 6th. Norfolk Southern’s dividend payout ratio (DPR) is 42.35%.

Analysts Set New Price Targets

Several research analysts recently weighed in on NSC shares. 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. UBS Group cut Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price on the stock. in a research note on Friday. JPMorgan Chase & Co. dropped their target price on Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and reduced their price target for the stock from $354.00 to $297.00 in a research report on Thursday, December 11th. Finally, Morgan Stanley raised shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $304.47.

Insider Transactions at Norfolk Southern

In related news, Director William Jr. Clyburn purchased 204 shares of Norfolk Southern stock in a transaction on Friday, December 5th. The stock was bought at an average price of $294.79 per share, with a total value of $60,137.16. Following the completion of the transaction, the director directly owned 405 shares of the company’s stock, valued at approximately $119,389.95. This represents a 101.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anil Bhatt sold 900 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total value of $253,440.00. Following the transaction, the executive vice president directly owned 1,413 shares in the company, valued at approximately $397,900.80. This represents a 38.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.06% of the stock is owned by insiders.

About Norfolk Southern

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.