Norfolk Southern Corporation $NSC Stock: Chicago Partners Investment Group LLC Raises Holdings

Chicago Partners Investment Group LLC lifted its stake in Norfolk Southern Corporation (NYSE:NSC) by 80.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,879 shares of the railroad operator’s stock after purchasing an additional 3,510 shares during the period. Chicago Partners Investment Group LLC’s holdings in Norfolk Southern were worth $2,600,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Norfolk Southern during the second quarter valued at $5,033,549,000. Bank of America Corp DE acquired a new position in Norfolk Southern in the second quarter valued at approximately $978,977,000. Legal & General Group Plc bought a new position in Norfolk Southern in the second quarter valued at approximately $503,093,000. Bank of New York Mellon Corp acquired a new stake in Norfolk Southern during the 2nd quarter worth $364,414,000. Finally, Deutsche Bank AG bought a new stake in shares of Norfolk Southern during the 2nd quarter valued at $356,558,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Down 2.8%

Shares of NSC traded down $9.19 during mid-day trading on Friday, hitting $320.06. 1,280,254 shares of the company’s stock were exchanged, compared to its average volume of 787,048. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.81. Norfolk Southern Corporation has a 52 week low of $277.80 and a 52 week high of $358.60. The company has a market cap of $71.89 billion, a PE ratio of 26.83, a P/E/G ratio of 5.17 and a beta of 1.20. The company has a 50-day simple moving average of $324.86 and a 200 day simple moving average of $316.10.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, October 22nd. The railroad operator reported $3.62 EPS for the quarter, topping the consensus estimate of $3.46 by $0.16. Norfolk Southern had a net margin of 20.70% and a return on equity of 18.22%. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the company posted $3.30 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. On average, research analysts forecast that Norfolk Southern Corporation will post 12.80 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s payout ratio is currently 45.26%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Evercore raised their price target on Norfolk Southern from $358.00 to $360.00 in a research report on Wednesday, September 30th. Barclays increased their target price on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Royal Bank Of Canada raised their target price on Norfolk Southern from $330.00 to $350.00 and gave the stock a “sector perform” rating in a report on Friday, October 23rd. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Finally, Susquehanna cut their price target on shares of Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $348.81.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America.

The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.

Norfolk Southern was formed in 1982 through the merger of the Norfolk and Western Railway and the Southern Railway.