Everett Harris & Co. CA Buys 224 Shares of Norfolk Southern Corporation $NSC

Everett Harris & Co. CA increased its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 17.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,476 shares of the railroad operator’s stock after acquiring an additional 224 shares during the period. Everett Harris & Co. CA’s holdings in Norfolk Southern were worth $378,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Norfolk Southern by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator’s stock valued at $4,813,114,000 after purchasing an additional 232,195 shares during the period. Price T Rowe Associates Inc. MD raised its position in Norfolk Southern by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock valued at $2,680,910,000 after buying an additional 2,710,930 shares during the last quarter. Boston Partners lifted its stake in Norfolk Southern by 3.4% in the 1st quarter. Boston Partners now owns 4,159,070 shares of the railroad operator’s stock valued at $983,161,000 after acquiring an additional 138,678 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in Norfolk Southern by 0.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator’s stock worth $947,006,000 after acquiring an additional 29,753 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Norfolk Southern by 6.4% during the 1st quarter. American Century Companies Inc. now owns 3,128,102 shares of the railroad operator’s stock worth $740,891,000 after acquiring an additional 189,076 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NSC has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on shares of Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Evercore ISI boosted their price target on shares of Norfolk Southern from $289.00 to $298.00 in a research report on Thursday, September 25th. Susquehanna increased their price objective on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Robert W. Baird raised their price objective on Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Finally, Bank of America lifted their target price on Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Hold” and a consensus price target of $299.70.

Norfolk Southern Stock Down 0.3%

Norfolk Southern stock opened at $286.63 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78. The company’s 50-day moving average is $286.63 and its 200-day moving average is $268.63. The firm has a market capitalization of $64.32 billion, a PE ratio of 21.86, a P/E/G ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $302.24.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.25 EPS. Sell-side analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Insiders Place Their Bets

In related news, Director Richard H. Anderson acquired 2,600 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were bought at an average cost of $281.86 per share, with a total value of $732,836.00. Following the completion of the transaction, the director directly owned 7,000 shares of the company’s stock, valued at $1,973,020. This trade represents a 59.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sameh Fahmy bought 1,650 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were bought at an average price of $282.97 per share, with a total value of $466,900.50. Following the purchase, the director owned 12,000 shares in the company, valued at $3,395,640. The trade was a 15.94% increase in their position. The SEC filing for this purchase provides additional information. 0.06% of the stock is currently owned by corporate insiders.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.