Empowered Funds LLC Boosts Holdings in Norfolk Southern Corporation $NSC

Empowered Funds LLC raised its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 19.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,748 shares of the railroad operator’s stock after buying an additional 3,559 shares during the quarter. Empowered Funds LLC’s holdings in Norfolk Southern were worth $5,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Norfolk Southern by 1.2% during the second quarter. Vanguard Group Inc. now owns 20,561,273 shares of the railroad operator’s stock valued at $5,263,069,000 after acquiring an additional 239,914 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Norfolk Southern by 31.5% during 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 purchasing an additional 2,710,930 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Norfolk Southern by 0.8% during the second quarter. Geode Capital Management LLC now owns 4,822,075 shares of the railroad operator’s stock valued at $1,228,064,000 after purchasing an additional 36,362 shares in the last quarter. Boston Partners increased its holdings in shares of Norfolk Southern by 3.4% in the first quarter. Boston Partners now owns 4,159,070 shares of the railroad operator’s stock worth $983,161,000 after purchasing an additional 138,678 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its position in shares of Norfolk Southern by 0.7% in the first quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator’s stock worth $947,006,000 after buying an additional 29,753 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.5%

NYSE NSC opened at $280.30 on Friday. 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 Corporation has a 52 week low of $201.63 and a 52 week high of $302.24. The firm has a market capitalization of $62.90 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.52 and a beta of 1.33. The company has a fifty day moving average of $287.44 and a two-hundred day moving average of $270.78.

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

Norfolk Southern Dividend Announcement

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

Analyst Ratings Changes

NSC has been the subject of several research analyst reports. Royal Bank Of Canada cut their price target on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a report on Friday, October 24th. Sanford C. Bernstein cut their target price on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Loop Capital upped their price target on shares of Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research note on Tuesday, September 16th. TD Cowen lowered their price objective on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Finally, Susquehanna boosted their target price on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Seven research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $301.10.

Insider Activity

In other news, EVP Anil Bhatt sold 900 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total value of $253,440.00. Following the sale, the executive vice president directly owned 1,413 shares in the company, valued at approximately $397,900.80. This represents a 38.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard H. Anderson purchased 2,600 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average cost of $281.86 per share, with a total value of $732,836.00. Following the completion of the purchase, the director directly owned 7,000 shares in the company, valued at $1,973,020. The trade was a 59.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.06% of the company’s stock.

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.