Oppenheimer Asset Management Inc. Raises Stake in Norfolk Southern Corporation $NSC

Oppenheimer Asset Management Inc. lifted its holdings in Norfolk Southern Corporation (NYSE:NSC) by 36.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,744 shares of the railroad operator’s stock after acquiring an additional 3,391 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Norfolk Southern were worth $3,828,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NSC. Brighton Jones LLC raised its position in Norfolk Southern by 4.9% during the fourth 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 period. Intech Investment Management LLC increased its position in shares of Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Norfolk Southern during the 2nd quarter valued at $327,000. CWM LLC raised its holdings in Norfolk Southern by 34.4% during the 2nd quarter. CWM LLC now owns 12,829 shares of the railroad operator’s stock valued at $3,284,000 after buying an additional 3,286 shares during the period. Finally, Sagespring Wealth Partners LLC lifted its position in Norfolk Southern by 21.7% in the second quarter. Sagespring Wealth Partners LLC now owns 4,398 shares of the railroad operator’s stock worth $1,126,000 after buying an additional 784 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NSC has been the topic of a number of analyst reports. Evercore upped their target price on Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. TD Cowen lowered their price target on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a report on Friday, October 24th. Sanford C. Bernstein dropped their target price on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Finally, Citigroup reduced their target price on shares of Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $304.47.

Insiders Place Their Bets

In other Norfolk Southern news, Director William Jr. Clyburn purchased 204 shares of Norfolk Southern stock in a transaction dated Friday, December 5th. The shares were acquired 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 owned 405 shares of the company’s stock, valued at $119,389.95. This trade represents a 101.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Anil Bhatt sold 900 shares of Norfolk Southern 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 completion of the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at $397,900.80. The trade was a 38.91% decrease in their position. The SEC filing for this sale provides additional information. 0.06% of the stock is owned by corporate insiders.

Norfolk Southern Trading Up 0.7%

NSC stock opened at $317.56 on Thursday. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $318.65. The business’s 50-day moving average is $292.96 and its 200 day moving average is $287.55. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The stock has a market cap of $71.31 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 5.61 and a beta of 1.34.

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

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s 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.