Pallas Capital Advisors LLC Sells 86 Shares of Norfolk Southern Co. (NYSE:NSC)

Pallas Capital Advisors LLC trimmed its holdings in Norfolk Southern Co. (NYSE:NSCFree Report) by 7.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,076 shares of the railroad operator’s stock after selling 86 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Norfolk Southern were worth $252,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. State Street Corp increased its holdings 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 buying an additional 196,249 shares in the last quarter. Geode Capital Management LLC increased its holdings in Norfolk Southern by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after buying an additional 62,186 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Norfolk Southern by 2.7% during 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. Mizuho Securities USA LLC grew its stake in shares of Norfolk Southern by 18,831.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after purchasing an additional 3,280,579 shares during the period. Finally, FMR LLC grew its stake in shares of Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after purchasing an additional 881,415 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Loop Capital boosted their price target on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company cut their price target on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Barclays boosted their price target on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Bank of America lifted 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. Finally, Jefferies Financial Group lifted their price objective on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and an average target price of $275.68.

Get Our Latest Analysis on Norfolk Southern

Norfolk Southern Stock Up 0.5 %

NYSE NSC opened at $240.55 on Thursday. The stock’s 50 day moving average is $252.80 and its 200 day moving average is $246.23. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The stock has a market cap of $54.42 billion, a PE ratio of 22.59, a P/E/G ratio of 2.34 and a beta of 1.34.

Norfolk Southern (NYSE:NSCGet Free Report) last issued its quarterly earnings data 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. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.65 EPS. Research analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.24%. Norfolk Southern’s dividend payout ratio (DPR) is 50.70%.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy acquired 350 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the acquisition, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Norfolk Southern Profile

(Free Report)

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.

See Also

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

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