Westhampton Capital LLC Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

Westhampton Capital LLC bought a new stake in Norfolk Southern Co. (NYSE:NSC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 900 shares of the railroad operator’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Hall Capital Management Co. Inc. increased its position in shares of Norfolk Southern by 2.8% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after purchasing an additional 42 shares during the last quarter. Blue Chip Partners LLC raised its stake in Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after acquiring an additional 42 shares during the period. Stephens Consulting LLC boosted its position in Norfolk Southern by 12.4% during the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after purchasing an additional 42 shares during the period. Foster Victor Wealth Advisors LLC increased its stake in shares of Norfolk Southern by 4.2% in the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after purchasing an additional 42 shares in the last quarter. Finally, Stratos Investment Management LLC raised its position in shares of Norfolk Southern by 3.8% in the third quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator’s stock valued at $287,000 after purchasing an additional 42 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

NSC opened at $260.43 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $58.83 billion, a P/E ratio of 41.94, a PEG ratio of 2.33 and a beta of 1.31. The stock has a 50-day moving average price of $248.46 and a 200-day moving average price of $236.73. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. Norfolk Southern’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.95 earnings per share. Equities analysts predict that Norfolk Southern Co. will post 11.79 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio is presently 86.96%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NSC shares. Evercore ISI lifted their price objective on shares of Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Citigroup boosted their price objective on Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group raised their target price on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Susquehanna raised their price objective on shares of Norfolk Southern from $255.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $266.61.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy acquired 700 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares in the company, valued at $1,887,655. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares in the company, valued at approximately $371,077.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sameh Fahmy purchased 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

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.