Geode Capital Management LLC Purchases 36,362 Shares of Norfolk Southern Corporation $NSC

Geode Capital Management LLC lifted its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,822,075 shares of the railroad operator’s stock after acquiring an additional 36,362 shares during the quarter. Geode Capital Management LLC owned approximately 2.15% of Norfolk Southern worth $1,228,064,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NSC. Everett Harris & Co. CA lifted its position in Norfolk Southern by 17.9% during the 2nd quarter. Everett Harris & Co. CA now owns 1,476 shares of the railroad operator’s stock valued at $378,000 after purchasing an additional 224 shares during the period. Forsta AP Fonden lifted its holdings in Norfolk Southern by 3.0% in the second quarter. Forsta AP Fonden now owns 44,200 shares of the railroad operator’s stock valued at $11,314,000 after buying an additional 1,300 shares during the period. KBC Group NV boosted its stake in Norfolk Southern by 8.5% in the second quarter. KBC Group NV now owns 18,449 shares of the railroad operator’s stock valued at $4,722,000 after acquiring an additional 1,439 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Norfolk Southern by 18.5% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 951,361 shares of the railroad operator’s stock worth $243,520,000 after acquiring an additional 148,221 shares during the period. Finally, National Pension Service lifted its stake in shares of Norfolk Southern by 1.4% in the 2nd quarter. National Pension Service now owns 569,172 shares of the railroad operator’s stock valued at $145,691,000 after purchasing an additional 7,681 shares during the period. Institutional investors own 75.10% of the company’s stock.

Insider Activity at Norfolk Southern

In related news, Director Richard H. Anderson acquired 2,600 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was bought at an average price of $281.86 per share, with a total value of $732,836.00. Following the acquisition, the director owned 7,000 shares in the company, valued at $1,973,020. This represents a 59.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sameh Fahmy acquired 1,650 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was purchased at an average cost of $282.97 per share, with a total value of $466,900.50. Following the transaction, the director owned 12,000 shares in the company, valued at approximately $3,395,640. This trade represents a 15.94% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.06% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $286.63 on Thursday. The firm has a market cap of $64.32 billion, a PE ratio of 21.86, a P/E/G ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. The company’s fifty day simple moving average is $286.63 and its 200-day simple moving average is $268.63. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.01). The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned $3.25 earnings per share. Equities research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio is currently 41.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Susquehanna upped their price objective on Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Citigroup cut their price target on shares of Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Sanford C. Bernstein boosted their price objective on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Evercore ISI upped their target price on shares of Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. Finally, Loop Capital lifted their price target on shares of Norfolk Southern from $235.00 to $278.00 and gave the stock a “hold” rating in a research report on Tuesday, September 16th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $299.70.

About Norfolk Southern

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.