Farther Finance Advisors LLC Boosts Stake in Norfolk Southern Co. (NYSE:NSC)

Farther Finance Advisors LLC raised its position in Norfolk Southern Co. (NYSE:NSC) by 31.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,945 shares of the railroad operator’s stock after purchasing an additional 713 shares during the quarter. Farther Finance Advisors LLC’s holdings in Norfolk Southern were worth $732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NSC. GSA Capital Partners LLP raised its position in Norfolk Southern by 60.9% in the 1st quarter. GSA Capital Partners LLP now owns 2,043 shares of the railroad operator’s stock worth $521,000 after purchasing an additional 773 shares during the period. Richardson Financial Services Inc. purchased a new position in shares of Norfolk Southern during the first quarter worth approximately $45,000. Csenge Advisory Group increased its position in shares of Norfolk Southern by 3.9% during the first quarter. Csenge Advisory Group now owns 1,153 shares of the railroad operator’s stock worth $294,000 after acquiring an additional 43 shares during the period. SPC Financial Inc. purchased a new position in shares of Norfolk Southern during the first quarter worth approximately $460,000. Finally, Broderick Brian C purchased a new position in shares of Norfolk Southern during the first quarter worth approximately $956,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 1.8 %

NYSE:NSC opened at $252.17 on Wednesday. Norfolk Southern Co. has a 12 month low of $192.53 and a 12 month high of $263.66. The firm has a fifty day simple moving average of $250.55 and a 200-day simple moving average of $237.17. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $57.05 billion, a P/E ratio of 23.68, a PEG ratio of 2.37 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm posted $2.65 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.14%. Norfolk Southern’s payout ratio is currently 50.70%.

Insider Transactions at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of research reports. TD Cowen raised their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Bank of America raised their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna lifted their price objective on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Benchmark lifted their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $274.16.

Norfolk Southern Company 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.