Evanson Asset Management LLC Acquires Shares of 829 Norfolk Southern Co. (NYSE:NSC)

Evanson Asset Management LLC bought a new position in shares of Norfolk Southern Co. (NYSE:NSC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 829 shares of the railroad operator’s stock, valued at approximately $206,000.

Several other large investors have also recently modified their holdings of NSC. Ossiam lifted its holdings in Norfolk Southern by 0.7% during the 4th quarter. Ossiam now owns 6,899 shares of the railroad operator’s stock worth $1,631,000 after purchasing an additional 51 shares in the last quarter. State of Tennessee Treasury Department increased its position in shares of Norfolk Southern by 209.3% during the fourth quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock valued at $26,454,000 after buying an additional 75,729 shares during the period. Cullen Capital Management LLC bought a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $207,000. Jacobi Capital Management LLC grew its stake in Norfolk Southern by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 7,451 shares of the railroad operator’s stock valued at $1,761,000 after acquiring an additional 158 shares in the last quarter. Finally, Appian Way Asset Management LP purchased a new position in Norfolk Southern during the fourth quarter valued at approximately $15,530,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Activity

In related news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction dated Monday, July 29th. The shares were 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 directly owns 1,488 shares of the company’s stock, valued at $371,077.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction that occurred 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 owns 1,488 shares in the company, valued at approximately $371,077.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on 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 sale, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This represents 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 0.2 %

NYSE NSC opened at $243.20 on Wednesday. The business’s 50-day moving average is $246.73 and its 200 day moving average is $236.78. The stock has a market capitalization of $54.94 billion, a PE ratio of 39.16, a PEG ratio of 2.40 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66.

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

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were issued a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.22%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Analysts Set New Price Targets

NSC has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Sanford C. Bernstein dropped their price objective on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Stifel Nicolaus upped their target price on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. TD Cowen lifted their price target 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, Susquehanna boosted their price objective on Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

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.