Everett Harris & Co. CA Has $378,000 Stock Holdings in Norfolk Southern Corporation $NSC

Everett Harris & Co. CA increased its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 17.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,476 shares of the railroad operator’s stock after buying an additional 224 shares during the period. Everett Harris & Co. CA’s holdings in Norfolk Southern were worth $378,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. WPG Advisers LLC acquired a new position in shares of Norfolk Southern during the first quarter worth approximately $27,000. True Wealth Design LLC increased its holdings 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 valued at $28,000 after purchasing an additional 89 shares in the last quarter. NewSquare Capital LLC raised its position in Norfolk Southern by 58.5% in the 2nd quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Pinnacle Bancorp Inc. raised its position in Norfolk Southern by 30.5% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after purchasing an additional 43 shares during the last quarter. Finally, Chung Wu Investment Group LLC acquired a new position in Norfolk Southern during the 2nd quarter worth $51,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC opened at $286.63 on Thursday. The stock has a market cap of $64.32 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The stock’s 50-day moving average price is $286.63 and its two-hundred day moving average price is $268.63. 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 (NYSE:NSC) last announced its quarterly 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 net margin of 24.22% and a return on equity of 18.93%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period last year, the company earned $3.25 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. On average, equities analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, November 7th will be issued a $1.35 dividend. The ex-dividend date is Friday, November 7th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is 41.19%.

Insiders Place Their Bets

In other news, Director Richard H. Anderson purchased 2,600 shares of the firm’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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sameh Fahmy acquired 1,650 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were acquired at an average cost of $282.97 per share, for a total transaction of $466,900.50. Following the purchase, the director directly owned 12,000 shares in the company, valued at $3,395,640. This trade represents a 15.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NSC shares. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 target price on shares of Norfolk Southern in a research note on Friday, July 25th. UBS Group decreased their price target on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Weiss Ratings cut Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Barclays upped their target price on shares of Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Finally, Sanford C. Bernstein raised their target price on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and a consensus target price of $299.70.

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.