Lavaca Capital LLC Makes New $1.71 Million Investment in Norfolk Southern Corp. (NYSE:NSC)

Lavaca Capital LLC bought a new position in shares of Norfolk Southern Corp. (NYSE:NSC) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 9,500 shares of the railroad operator’s stock, valued at approximately $1,707,000. Norfolk Southern makes up approximately 1.3% of Lavaca Capital LLC’s investment portfolio, making the stock its 21st largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Bigelow Investment Advisors LLC boosted its stake in shares of Norfolk Southern by 1.0% during the 2nd quarter. Bigelow Investment Advisors LLC now owns 5,409 shares of the railroad operator’s stock worth $1,078,000 after buying an additional 55 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in Norfolk Southern by 18.4% in the 2nd quarter. Contravisory Investment Management Inc. now owns 360 shares of the railroad operator’s stock valued at $72,000 after purchasing an additional 56 shares during the last quarter. Unison Advisors LLC lifted its stake in Norfolk Southern by 0.4% in the 2nd quarter. Unison Advisors LLC now owns 12,654 shares of the railroad operator’s stock valued at $2,522,000 after purchasing an additional 56 shares during the last quarter. First Financial Corp IN lifted its stake in Norfolk Southern by 8.5% in the 3rd quarter. First Financial Corp IN now owns 765 shares of the railroad operator’s stock valued at $138,000 after purchasing an additional 60 shares during the last quarter. Finally, NEXT Financial Group Inc lifted its stake in Norfolk Southern by 2.6% in the 3rd quarter. NEXT Financial Group Inc now owns 2,390 shares of the railroad operator’s stock valued at $429,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 72.95% of the company’s stock.

Several brokerages recently issued reports on NSC. BMO Capital Markets cut their target price on shares of Norfolk Southern from $200.00 to $195.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. UBS Group cut their target price on shares of Norfolk Southern from $230.00 to $216.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Bank of America downgraded shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $198.00 target price for the company. in a research note on Wednesday, October 23rd. ValuEngine upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Credit Suisse Group raised their target price on shares of Norfolk Southern from $198.00 to $199.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $204.29.

NSC stock traded down $0.14 during mid-day trading on Friday, hitting $195.44. 888,465 shares of the company were exchanged, compared to its average volume of 1,670,462. The business has a 50 day simple moving average of $181.90 and a 200-day simple moving average of $189.20. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $50.53 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 1.94 and a beta of 1.37. Norfolk Southern Corp. has a 1-year low of $138.65 and a 1-year high of $211.46.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, October 23rd. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.57 by ($0.08). The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.86 billion. Norfolk Southern had a return on equity of 18.22% and a net margin of 23.98%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $2.52 earnings per share. Equities research analysts expect that Norfolk Southern Corp. will post 10.23 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.76 annualized dividend and a yield of 1.92%. Norfolk Southern’s dividend payout ratio (DPR) is presently 39.54%.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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