Captrust Financial Advisors lifted its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 108.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,565 shares of the railroad operator’s stock after acquiring an additional 7,061 shares during the quarter. Captrust Financial Advisors’ holdings in Norfolk Southern were worth $2,448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Resources Management Corp CT ADV bought a new position in shares of Norfolk Southern in the 3rd quarter worth $733,000. Glenmede Trust Co. NA increased its holdings in shares of Norfolk Southern by 3.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 69,717 shares of the railroad operator’s stock worth $12,583,000 after buying an additional 2,486 shares during the last quarter. HPM Partners LLC increased its holdings in shares of Norfolk Southern by 3.8% in the 3rd quarter. HPM Partners LLC now owns 16,918 shares of the railroad operator’s stock worth $3,054,000 after buying an additional 616 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Norfolk Southern by 11.1% in the 3rd quarter. Mackenzie Financial Corp now owns 79,055 shares of the railroad operator’s stock worth $14,269,000 after buying an additional 7,918 shares during the last quarter. Finally, Wakefield Asset Management LLLP bought a new position in shares of Norfolk Southern in the 3rd quarter worth $440,000. Institutional investors own 72.96% of the company’s stock.

NSC stock opened at $147.58 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.75 and a current ratio of 0.86. Norfolk Southern Corp. has a 52 week low of $127.79 and a 52 week high of $186.91. The firm has a market cap of $41.09 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 1.36 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, October 24th. The railroad operator reported $2.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.08. Norfolk Southern had a net margin of 52.82% and a return on equity of 15.12%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the firm earned $1.75 EPS. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts expect that Norfolk Southern Corp. will post 9.26 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 10th. Investors of record on Friday, November 2nd were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Thursday, November 1st. Norfolk Southern’s dividend payout ratio is currently 48.41%.

In related news, COO Michael Joseph Wheeler sold 801 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $172.55, for a total transaction of $138,212.55. Following the transaction, the chief operating officer now owns 9,406 shares of the company’s stock, valued at approximately $1,623,005.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.

A number of brokerages have recently commented on NSC. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $191.00 price target on the stock in a report on Wednesday, November 21st. Loop Capital set a $188.00 price target on shares of Norfolk Southern and gave the stock a “buy” rating in a report on Monday, November 26th. Stifel Nicolaus raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $189.00 price target on the stock in a report on Wednesday, October 24th. Barclays reissued a “hold” rating and issued a $190.00 price target on shares of Norfolk Southern in a report on Wednesday, September 26th. Finally, Bank of America increased their price target on shares of Norfolk Southern from $183.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $174.95.

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Norfolk Southern Company Profile

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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