14,620 Shares in Norfolk Southern Corporation $NSC Bought by Machina Capital S.A.S.

Machina Capital S.A.S. purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,620 shares of the railroad operator’s stock, valued at approximately $4,518,000.

A number of other hedge funds have also bought and sold shares of NSC. Diversify Advisory Services LLC raised its stake in shares of Norfolk Southern by 1.3% during the 3rd quarter. Diversify Advisory Services LLC now owns 2,824 shares of the railroad operator’s stock worth $917,000 after purchasing an additional 36 shares during the period. Cornerstone Wealth Management LLC grew its position in Norfolk Southern by 1.3% during the third quarter. Cornerstone Wealth Management LLC now owns 3,055 shares of the railroad operator’s stock valued at $944,000 after buying an additional 38 shares during the period. Providence First Trust Co grew its position in Norfolk Southern by 3.3% during the third quarter. Providence First Trust Co now owns 1,223 shares of the railroad operator’s stock valued at $378,000 after buying an additional 39 shares during the period. Foster Group Inc. grew its position in Norfolk Southern by 3.1% during the second quarter. Foster Group Inc. now owns 1,405 shares of the railroad operator’s stock valued at $442,000 after buying an additional 42 shares during the period. Finally, Avestar Capital LLC increased its holdings in Norfolk Southern by 3.8% during the third quarter. Avestar Capital LLC now owns 1,212 shares of the railroad operator’s stock worth $375,000 after buying an additional 44 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Up 0.7%

Shares of NYSE NSC opened at $330.32 on Thursday. Norfolk Southern Corporation has a one year low of $277.80 and a one year high of $358.60. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.81. The business’s fifty day moving average price is $324.06 and its 200-day moving average price is $316.69. The stock has a market capitalization of $74.20 billion, a PE ratio of 27.69, a P/E/G ratio of 4.88 and a beta of 1.20.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.16. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the prior year, the company earned $3.30 EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 12.87 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern’s dividend payout ratio is 45.26%.

Wall Street Analyst Weigh In

NSC has been the subject of a number of research analyst reports. Barclays raised their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Robert W. Baird boosted their target price on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Norfolk Southern from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Royal Bank Of Canada increased their target price on shares of Norfolk Southern from $330.00 to $350.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $318.00 to $323.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Norfolk Southern presently has an average rating of “Hold” and an average target price of $348.81.

About Norfolk Southern

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America. The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.