3Chopt Investment Partners LLC Takes Position in Norfolk Southern Co. (NYSE:NSC)

3Chopt Investment Partners LLC purchased a new position in shares of Norfolk Southern Co. (NYSE:NSC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,715 shares of the railroad operator’s stock, valued at approximately $1,227,000.

A number of other institutional investors also recently made changes to their positions in the business. TD Asset Management Inc boosted its position in Norfolk Southern by 9.2% during the fourth quarter. TD Asset Management Inc now owns 80,261 shares of the railroad operator’s stock valued at $18,972,000 after buying an additional 6,764 shares during the period. KBC Group NV grew its position in Norfolk Southern by 16.5% during the 4th quarter. KBC Group NV now owns 20,325 shares of the railroad operator’s stock worth $4,805,000 after acquiring an additional 2,879 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Norfolk Southern by 3.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 198,626 shares of the railroad operator’s stock valued at $46,951,000 after purchasing an additional 6,414 shares during the last quarter. NEOS Investment Management LLC grew its holdings in shares of Norfolk Southern by 43.0% in the fourth quarter. NEOS Investment Management LLC now owns 3,210 shares of the railroad operator’s stock worth $759,000 after purchasing an additional 966 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its stake in shares of Norfolk Southern by 4.3% in the fourth quarter. Rafferty Asset Management LLC now owns 22,763 shares of the railroad operator’s stock worth $5,381,000 after buying an additional 944 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.8 %

Shares of NYSE:NSC opened at $248.50 on Tuesday. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The stock has a market capitalization of $56.14 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 2.40 and a beta of 1.31. The stock has a fifty day simple moving average of $245.36 and a two-hundred day simple moving average of $237.17. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC) last announced 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. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. Norfolk Southern’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.95 EPS. On average, research analysts anticipate that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.17%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Benchmark increased their target price on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company increased their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Evercore ISI lifted their price objective on Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. TD Cowen upped their target price on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Susquehanna lifted their price target on shares of Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.17.

Insider Buying and Selling at Norfolk Southern

In other news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were 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 directly owns 7,700 shares of the company’s stock, valued at $1,887,655. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

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.