EP Wealth Advisors LLC grew its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 41.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,631 shares of the railroad operator's stock after purchasing an additional 2,247 shares during the period. EP Wealth Advisors LLC's holdings in Norfolk Southern were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EdgePoint Investment Group Inc. grew its position in Norfolk Southern by 2.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator's stock valued at $967,340,000 after purchasing an additional 103,281 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Norfolk Southern by 48.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 62,836 shares of the railroad operator's stock worth $15,043,000 after purchasing an additional 20,613 shares during the last quarter. Wellington Management Group LLP grew its holdings in Norfolk Southern by 27.9% during the third quarter. Wellington Management Group LLP now owns 23,062 shares of the railroad operator's stock worth $5,731,000 after buying an additional 5,032 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Norfolk Southern in the 3rd quarter worth $1,147,000. Finally, State Street Corp grew its position in Norfolk Southern by 2.1% in the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator's stock worth $2,318,716,000 after purchasing an additional 196,249 shares in the last quarter. 75.10% of the stock is owned by institutional investors.
In related 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 transaction, the chief executive officer now owns 35,045 shares of the company's stock, valued at $8,970,819.10. This represents a 59.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sameh Fahmy acquired 1,000 shares of the business's stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the acquisition, the director now owns 10,000 shares of the company's stock, valued at $2,550,000. This represents a 11.11 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.
Shares of NSC opened at $256.85 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The firm has a 50-day moving average price of $258.96 and a 200 day moving average price of $243.10. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The firm has a market capitalization of $58.11 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.47 and a beta of 1.31.
Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter last year, the firm earned $2.65 earnings per share. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were given a dividend of $1.35 per share. The ex-dividend date was Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.10%. Norfolk Southern's dividend payout ratio is currently 50.70%.
Several research firms recently weighed in on NSC. Barclays increased their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Sanford C. Bernstein lifted their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an "outperform" rating in a report on Wednesday, October 9th. Bank of America increased their price objective on Norfolk Southern from $276.00 to $291.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Susquehanna raised their price target on Norfolk Southern from $280.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a "hold" rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $275.68.
View Our Latest Stock Analysis on NSC
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.
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