M&R Capital Management Inc. decreased its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,571 shares of the railroad operator’s stock after selling 715 shares during the quarter. Norfolk Southern makes up 1.4% of M&R Capital Management Inc.’s portfolio, making the stock its 21st largest position. M&R Capital Management Inc.’s holdings in Norfolk Southern were worth $6,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in NSC. FMR LLC lifted its holdings in Norfolk Southern by 8.6% during the 2nd quarter. FMR LLC now owns 7,036,787 shares of the railroad operator’s stock valued at $1,061,640,000 after buying an additional 555,871 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Norfolk Southern by 196.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 725,813 shares of the railroad operator’s stock valued at $109,503,000 after buying an additional 481,013 shares in the last quarter. PointState Capital LP bought a new stake in Norfolk Southern during the 2nd quarter valued at about $63,296,000. Artemis Investment Management LLP lifted its holdings in Norfolk Southern by 21.3% during the 3rd quarter. Artemis Investment Management LLP now owns 1,462,459 shares of the railroad operator’s stock valued at $263,981,000 after buying an additional 256,367 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in Norfolk Southern during the 3rd quarter valued at about $36,210,000. Institutional investors own 73.14% of the company’s stock.

NSC has been the subject of a number of research analyst reports. TD Securities upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating in a report on Thursday, October 25th. They noted that the move was a valuation call. Bank of America boosted their price target on shares of Norfolk Southern from $183.00 to $187.00 and gave the company a “buy” rating in a report on Monday, October 1st. Morgan Stanley set a $113.00 price target on shares of Norfolk Southern and gave the company a “sell” rating in a report on Monday, October 22nd. Barclays restated a “hold” rating and issued a $190.00 price target on shares of Norfolk Southern in a report on Wednesday, September 26th. Finally, Zacks Investment Research lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $176.95.

In other news, VP Cynthia C. Earhart sold 2,370 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total value of $414,963.30. Following the transaction, the vice president now owns 2,370 shares of the company’s stock, valued at approximately $414,963.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael Joseph Wheeler sold 801 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $172.55, for a total transaction of $138,212.55. Following the completion of the transaction, the chief operating officer now directly owns 9,406 shares in the company, valued at approximately $1,623,005.30. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Shares of Norfolk Southern stock traded down $1.66 on Monday, reaching $170.39. The stock had a trading volume of 9,030 shares, compared to its average volume of 2,370,799. The company has a quick ratio of 0.75, a current ratio of 0.86 and a debt-to-equity ratio of 0.69. Norfolk Southern Corp. has a 1 year low of $126.40 and a 1 year high of $186.91. The company has a market cap of $46.86 billion, a P/E ratio of 25.89, a PEG ratio of 1.55 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. Norfolk Southern had a net margin of 52.82% and a return on equity of 15.12%. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the firm earned $1.75 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts forecast that Norfolk Southern Corp. will post 9.25 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 2nd will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, November 1st. Norfolk Southern’s payout ratio is currently 48.41%.

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About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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