HB Wealth Management LLC Grows Position in Norfolk Southern Corporation $NSC

HB Wealth Management LLC increased its position in Norfolk Southern Corporation (NYSE:NSC) by 30.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 26,689 shares of the railroad operator’s stock after purchasing an additional 6,280 shares during the period. HB Wealth Management LLC’s holdings in Norfolk Southern were worth $8,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas bought a new stake in Norfolk Southern in the 2nd quarter worth $26,000. True Wealth Design LLC raised its stake in shares of Norfolk Southern by 423.8% during the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after acquiring an additional 89 shares during the last quarter. Highline Wealth Partners LLC boosted its holdings in shares of Norfolk Southern by 68.9% during the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock worth $31,000 after purchasing an additional 42 shares during the period. NewSquare Capital LLC boosted its holdings in shares of Norfolk Southern by 58.5% during the second quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock worth $33,000 after purchasing an additional 48 shares during the period. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Norfolk Southern in the second quarter worth about $35,000. 75.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Norfolk Southern

In related news, Director Richard H. Anderson purchased 2,600 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were purchased at an average cost of $281.86 per share, with a total value of $732,836.00. Following the transaction, the director directly owned 7,000 shares in the company, valued at $1,973,020. This trade represents a 59.09% increase in their position. The purchase 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 firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $397,900.80. This trade represents a 38.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have acquired a total of 4,454 shares of company stock worth $1,259,874 in the last ninety days. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on NSC. Citigroup upped their price target on Norfolk Southern from $307.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday. Morgan Stanley upgraded Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Zacks Research lowered Norfolk Southern from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 19th. Royal Bank Of Canada reissued a “sector perform” rating and set a $325.00 price objective on shares of Norfolk Southern in a research report on Thursday, December 18th. Finally, Evercore ISI upped their price objective on shares of Norfolk Southern from $298.00 to $299.00 in a report on Thursday, December 18th. Seven investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern has an average rating of “Hold” and an average target price of $299.95.

Norfolk Southern Price Performance

Shares of NSC stock opened at $289.89 on Friday. The stock has a market cap of $65.05 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 4.88 and a beta of 1.33. The business’s fifty day moving average is $288.94 and its 200 day moving average is $282.54. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month 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 announced its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.01). The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.25 EPS. Research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Friday, November 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s payout ratio is presently 41.19%.

Norfolk Southern Company 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.