DekaBank Deutsche Girozentrale Raises Position in Norfolk Southern Co. (NYSE:NSC)

DekaBank Deutsche Girozentrale grew its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 11.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 79,305 shares of the railroad operator’s stock after purchasing an additional 8,249 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Norfolk Southern were worth $19,468,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Cedar Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the 1st quarter worth $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth $27,000. Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth $31,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sameh Fahmy bought 700 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, with a total value of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction on 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 directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sameh Fahmy bought 700 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $252.41 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern Co. has a one year low of $184.62 and a one year high of $263.66. The company’s 50-day simple moving average is $249.70 and its 200-day simple moving average is $236.87. The stock has a market capitalization of $57.11 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 2.38 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the company posted $2.65 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on NSC shares. Wells Fargo & Company increased their price target on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Loop Capital increased their price target on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada increased their price target on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein increased their price target on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Benchmark increased their price target on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average price target of $274.16.

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.