GAMMA Investing LLC Acquires 692 Shares of Norfolk Southern Co. (NYSE:NSC)

GAMMA Investing LLC lifted its stake in Norfolk Southern Co. (NYSE:NSC) by 22.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,708 shares of the railroad operator’s stock after buying an additional 692 shares during the period. GAMMA Investing LLC’s holdings in Norfolk Southern were worth $921,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of NSC. Handelsbanken Fonder AB raised its position in Norfolk Southern by 6.7% in the third quarter. Handelsbanken Fonder AB now owns 97,081 shares of the railroad operator’s stock worth $24,125,000 after purchasing an additional 6,108 shares in the last quarter. Cullen Investment Group LTD. increased its holdings in Norfolk Southern by 10.2% during the 3rd quarter. Cullen Investment Group LTD. now owns 1,311 shares of the railroad operator’s stock valued at $326,000 after purchasing an additional 121 shares in the last quarter. Curbstone Financial Management Corp raised its position in Norfolk Southern by 9.0% in the 3rd quarter. Curbstone Financial Management Corp now owns 2,482 shares of the railroad operator’s stock valued at $617,000 after purchasing an additional 204 shares during the last quarter. Czech National Bank boosted its stake in Norfolk Southern by 7.0% in the third quarter. Czech National Bank now owns 46,058 shares of the railroad operator’s stock worth $11,445,000 after purchasing an additional 3,008 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Norfolk Southern by 1.0% during the third quarter. Central Pacific Bank Trust Division now owns 15,367 shares of the railroad operator’s stock worth $3,819,000 after purchasing an additional 150 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on NSC. Stifel Nicolaus upped their price target on shares of Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada raised their price target on shares of Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Benchmark upped their price objective on Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Morgan Stanley reissued an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. Finally, Evercore ISI upped their price target on Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and an average price target of $266.56.

Norfolk Southern Stock Down 1.7 %

Shares of NYSE:NSC opened at $243.82 on Tuesday. The company has a 50 day moving average price of $246.80 and a two-hundred day moving average price of $236.88. The company has a market capitalization of $55.08 billion, a PE ratio of 39.26, a PEG ratio of 2.40 and a beta of 1.31. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping 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 business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the business posted $2.95 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Analysts forecast that Norfolk Southern Co. will post 11.8 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insider Activity at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction 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 directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the business’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 of the company’s stock, valued at $371,077.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the 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 completion of the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Norfolk Southern 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.