Cresset Asset Management LLC Raises Stock Position in Norfolk Southern Corporation $NSC

Cresset Asset Management LLC lifted its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,847 shares of the railroad operator’s stock after acquiring an additional 2,834 shares during the quarter. Cresset Asset Management LLC’s holdings in Norfolk Southern were worth $12,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC boosted its position in Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of 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 buying an additional 58 shares during the last quarter. BNP Paribas purchased a new stake in shares of Norfolk Southern in the 2nd quarter worth about $26,000. True Wealth Design LLC boosted its position in shares of Norfolk Southern by 423.8% in the 2nd quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after buying an additional 89 shares in the last quarter. Finally, MMA Asset Management LLC acquired a new stake in Norfolk Southern in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling

In other news, Director William Jr. Clyburn acquired 204 shares of the business’s stock in a transaction on Friday, December 5th. The shares were purchased at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the acquisition, the director directly owned 405 shares of the company’s stock, valued at $119,389.95. This represents a 101.49% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

Norfolk Southern Stock Up 0.2%

NSC opened at $317.79 on Thursday. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $319.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The business has a 50-day moving average of $299.48 and a two-hundred day moving average of $291.25. The stock has a market capitalization of $71.37 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 5.73 and a beta of 1.31.

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

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Evercore lifted their target price on shares of Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Sanford C. Bernstein dropped their price objective on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Norfolk Southern in a research note on Thursday, January 22nd. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Friday, January 30th. Finally, Royal Bank Of Canada cut their price target on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating for the company in a report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating, sixteen 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 an average target price of $304.47.

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.