Park Place Capital Corp Purchases 3,640 Shares of Norfolk Southern Corporation $NSC

Park Place Capital Corp raised its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 13,000.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,668 shares of the railroad operator’s stock after purchasing an additional 3,640 shares during the period. Park Place Capital Corp’s holdings in Norfolk Southern were worth $1,102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP Paribas purchased a new stake in Norfolk Southern during the 2nd quarter valued at $26,000. Highline Wealth Partners LLC lifted its stake in shares of Norfolk Southern by 68.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock valued at $31,000 after buying an additional 42 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Norfolk Southern by 423.8% in the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after acquiring an additional 89 shares during the period. Financial Consulate Inc. purchased a new stake in Norfolk Southern during the 3rd quarter valued at approximately $36,000. Finally, NewSquare Capital LLC grew its stake in Norfolk Southern by 58.5% during the second quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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 report on Tuesday, September 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $325.00 price target on shares of Norfolk Southern in a research note on Thursday, December 18th. Morgan Stanley upgraded Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. JPMorgan Chase & Co. increased their price objective on shares of Norfolk Southern from $288.00 to $303.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Finally, BMO Capital Markets increased their price target on shares of Norfolk Southern from $285.00 to $305.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $299.45.

Insiders Place Their Bets

In related news, Director Sameh Fahmy acquired 1,650 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were purchased at an average cost of $282.97 per share, for a total transaction of $466,900.50. Following the acquisition, the director owned 12,000 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Anderson purchased 2,600 shares of the stock in a transaction dated Monday, October 27th. The shares were purchased at an average price of $281.86 per share, with a total value of $732,836.00. Following the completion of the transaction, the director owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. This trade represents a 59.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 4,454 shares of company stock valued at $1,259,874. 0.06% of the stock is owned by company insiders.

Norfolk Southern Stock Down 0.4%

Shares of NSC opened at $287.59 on Monday. The firm has a market cap of $64.53 billion, a P/E ratio of 21.94, a PEG ratio of 4.94 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 stock’s 50 day moving average is $288.34 and its two-hundred day moving average is $281.96. 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 (NYSE:NSC) last released its earnings results 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 return on equity of 18.93% and a net margin of 24.22%.The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the prior year, the firm earned $3.25 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Friday, November 7th were given a $1.35 dividend. The ex-dividend date was Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s payout ratio is currently 41.19%.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.