Norfolk Southern Corporation $NSC Shares Purchased by London Co. of Virginia

London Co. of Virginia boosted its position in Norfolk Southern Corporation (NYSE:NSC) by 15.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,844,928 shares of the railroad operator’s stock after buying an additional 250,055 shares during the period. Norfolk Southern makes up about 2.7% of London Co. of Virginia’s holdings, making the stock its 4th biggest position. London Co. of Virginia owned approximately 0.82% of Norfolk Southern worth $472,254,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Aberdeen Group plc lifted its holdings in Norfolk Southern by 6.4% in the second quarter. Aberdeen Group plc now owns 529,726 shares of the railroad operator’s stock valued at $135,610,000 after acquiring an additional 31,878 shares during the period. Morningstar Investment Management LLC purchased a new position in shares of Norfolk Southern in the 2nd quarter valued at about $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Norfolk Southern by 682.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock valued at $14,337,000 after purchasing an additional 48,850 shares during the period. West Family Investments Inc. purchased a new stake in Norfolk Southern during the second quarter worth about $260,000. Finally, Teacher Retirement System of Texas grew its position in Norfolk Southern by 10.4% during the second quarter. Teacher Retirement System of Texas now owns 116,795 shares of the railroad operator’s stock worth $29,896,000 after buying an additional 10,990 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 1.0%

Shares of Norfolk Southern stock opened at $296.99 on Friday. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $302.24. The business’s fifty day moving average is $287.93 and its two-hundred day moving average is $277.01. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The firm has a market cap of $66.64 billion, a PE ratio of 22.65, a P/E/G ratio of 2.70 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the prior year, the firm earned $3.25 EPS. Norfolk Southern’s revenue for the quarter was up .0% on a year-over-year basis. Analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Friday, November 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. Norfolk Southern’s dividend payout ratio is currently 41.19%.

Analyst Upgrades and Downgrades

NSC has been the subject of several research analyst reports. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research note on Monday, October 27th. TD Cowen reduced their price target on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Susquehanna raised their price objective on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Royal Bank Of Canada lowered their target price on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating on the stock in a report on Friday, October 24th. Finally, Sanford C. Bernstein reduced their price objective on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Six research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and a consensus target price of $297.90.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy purchased 1,650 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were bought at an average price of $282.97 per share, with a total value of $466,900.50. Following the completion of the purchase, the director directly owned 12,000 shares in the company, valued at approximately $3,395,640. This trade represents a 15.94% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard H. Anderson purchased 2,600 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was bought at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the acquisition, the director owned 7,000 shares in the company, valued at $1,973,020. The trade was a 59.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 4,454 shares of company stock valued at $1,259,874. Insiders own 0.06% of the company’s stock.

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.