Norfolk Southern Co. (NYSE:NSC) Stake Increased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in Norfolk Southern Co. (NYSE:NSC) by 3.6% in the third quarter, Holdings Channel reports. The institutional investor owned 255,200 shares of the railroad operator’s stock after acquiring an additional 8,844 shares during the quarter. Principal Financial Group Inc.’s holdings in Norfolk Southern were worth $63,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Advisors Management Group Inc. ADV bought a new stake in shares of Norfolk Southern in the third quarter worth $215,000. Maia Wealth LLC increased its stake in Norfolk Southern by 4.7% during the third quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock valued at $264,000 after purchasing an additional 47 shares during the last quarter. Umpqua Bank increased its stake in Norfolk Southern by 2.1% during the third quarter. Umpqua Bank now owns 4,649 shares of the railroad operator’s stock valued at $1,155,000 after purchasing an additional 94 shares during the last quarter. Radnor Capital Management LLC bought a new stake in Norfolk Southern during the third quarter valued at $1,563,000. Finally, Fiduciary Family Office LLC increased its stake in Norfolk Southern by 31.9% during the third quarter. Fiduciary Family Office LLC now owns 7,709 shares of the railroad operator’s stock valued at $1,916,000 after purchasing an additional 1,865 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $271.67 on Friday. Norfolk Southern Co. has a twelve month low of $193.15 and a twelve month high of $277.60. 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 $61.46 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 2.63 and a beta of 1.30. The firm has a 50-day moving average of $251.77 and a two-hundred day moving average of $237.87.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the company earned $2.65 EPS. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. As a group, analysts expect that Norfolk Southern Co. will post 11.81 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s payout ratio is 50.70%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Stephens reiterated an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Barclays boosted their target price on shares of Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America upped their price target 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. Finally, Evercore ISI lowered their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and an average target price of $274.16.

Insider Buying and Selling at Norfolk Southern

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