Norfolk Southern Corporation $NSC Shares Bought by Primecap Management Co. CA

Primecap Management Co. CA grew its holdings in Norfolk Southern Corporation (NYSE:NSC) by 49.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,050,083 shares of the railroad operator’s stock after buying an additional 345,163 shares during the quarter. Primecap Management Co. CA owned about 0.47% of Norfolk Southern worth $268,790,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Aberdeen Group plc grew its holdings in shares of Norfolk Southern by 6.4% in the 2nd quarter. Aberdeen Group plc now owns 529,726 shares of the railroad operator’s stock worth $135,610,000 after acquiring an additional 31,878 shares during the period. Morningstar Investment Management LLC purchased a new stake in Norfolk Southern during the second quarter worth $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in 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 last quarter. Teacher Retirement System of Texas increased its position in shares of Norfolk Southern by 10.4% in the second quarter. Teacher Retirement System of Texas now owns 116,795 shares of the railroad operator’s stock valued at $29,896,000 after buying an additional 10,990 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Norfolk Southern by 4.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 76,057 shares of the railroad operator’s stock worth $19,468,000 after buying an additional 3,367 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

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

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $281.30 on Wednesday. The stock has a fifty day moving average price of $287.12 and a 200 day moving average price of $270.63. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $302.24. The firm has a market capitalization of $63.12 billion, a P/E ratio of 21.46, a PEG ratio of 2.52 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last posted 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). 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 quarter last year, the firm earned $3.25 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Analyst Upgrades and Downgrades

NSC has been the topic of a number of research reports. Loop Capital increased their price objective on shares of Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research note on Tuesday, September 16th. Weiss Ratings lowered shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of Norfolk Southern from $288.00 to $303.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Sanford C. Bernstein reduced their target price on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada cut their price target on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a report on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $301.10.

Norfolk Southern 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.