Pallas Capital Advisors LLC Has $294,000 Stock Position in Norfolk Southern Co. (NYSE:NSC)

Pallas Capital Advisors LLC raised its stake in Norfolk Southern Co. (NYSE:NSC) by 17.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,162 shares of the railroad operator’s stock after acquiring an additional 171 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Norfolk Southern were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Lake Street Advisors Group LLC lifted its holdings in Norfolk Southern by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after purchasing an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. boosted its position in shares of Norfolk Southern by 2.8% in the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after acquiring an additional 42 shares during the period. Blue Chip Partners LLC grew its stake in shares of Norfolk Southern by 0.5% in the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after acquiring an additional 42 shares in the last quarter. Stephens Consulting LLC increased its position in Norfolk Southern by 12.4% during the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after acquiring an additional 42 shares during the period. Finally, Foster Victor Wealth Advisors LLC raised its stake in Norfolk Southern by 4.2% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after purchasing an additional 42 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NSC has been the topic of a number of analyst reports. Wells Fargo & Company increased their target price on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Loop Capital raised their price objective on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley reiterated an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a research report on Monday, July 8th. Susquehanna increased their target price on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Citigroup boosted their price target on Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and an average price target of $274.16.

Insiders Place Their Bets

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

Norfolk Southern Stock Down 0.9 %

Shares of NYSE:NSC opened at $250.43 on Friday. 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 52-week low of $187.75 and a 52-week high of $263.66. The company has a market capitalization of $56.66 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.38 and a beta of 1.31. The company has a fifty day moving average of $250.19 and a 200-day moving average of $237.07.

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

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be given a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.16%. Norfolk Southern’s dividend payout ratio is presently 50.70%.

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.