Citizens Financial Group Inc. RI Has $989,000 Stake in Norfolk Southern Co. (NYSE:NSC)

Citizens Financial Group Inc. RI lifted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 7.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,608 shares of the railroad operator’s stock after acquiring an additional 317 shares during the period. Citizens Financial Group Inc. RI’s holdings in Norfolk Southern were worth $989,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Gryphon Financial Partners LLC boosted its holdings in Norfolk Southern by 7.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,840 shares of the railroad operator’s stock worth $672,000 after acquiring an additional 198 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new position in shares of Norfolk Southern during the fourth quarter worth approximately $206,000. Coldstream Capital Management Inc. grew its position in Norfolk Southern by 22.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 5,339 shares of the railroad operator’s stock valued at $1,262,000 after purchasing an additional 983 shares during the period. Associated Banc Corp bought a new stake in Norfolk Southern during the 4th quarter valued at $210,000. Finally, D.A. Davidson & CO. increased its stake in Norfolk Southern by 16.6% during the 4th quarter. D.A. Davidson & CO. now owns 22,021 shares of the railroad operator’s stock valued at $5,206,000 after purchasing an additional 3,143 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Sameh Fahmy acquired 700 shares of Norfolk Southern stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares in the company, valued at $1,887,655. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Anderson bought 2,000 shares of the stock in a transaction on Monday, July 29th. The stock was purchased at an average price of $247.48 per share, for a total transaction of $494,960.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at $742,440. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Down 0.3 %

Shares of NYSE NSC opened at $246.24 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The stock has a market capitalization of $55.63 billion, a PE ratio of 39.65, a P/E/G ratio of 2.48 and a beta of 1.31. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The business’s fifty day moving average price is $241.67 and its 200-day moving average price is $237.89.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the firm earned $2.95 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.19%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NSC. Stifel Nicolaus lifted their price objective on shares of Norfolk Southern from $239.00 to $241.00 and gave the company a “hold” rating in a report on Friday, July 26th. Benchmark lifted their price target on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Morgan Stanley reissued an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research note on Monday, July 8th. TD Cowen lifted their target price on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Sanford C. Bernstein lowered their price target on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus target price of $264.24.

About Norfolk Southern

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.