Cutter & CO Brokerage Inc. Boosts Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Cutter & CO Brokerage Inc. grew its holdings in Norfolk Southern Co. (NYSE:NSC) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,893 shares of the railroad operator’s stock after acquiring an additional 532 shares during the period. Norfolk Southern comprises approximately 0.9% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 25th biggest holding. Cutter & CO Brokerage Inc.’s holdings in Norfolk Southern were worth $4,198,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Diversify Advisory Services LLC acquired a new stake in Norfolk Southern during the 3rd quarter valued at $376,000. SC&H Financial Advisors Inc. acquired a new position in Norfolk Southern during the 3rd quarter worth $214,000. abrdn plc grew its holdings in Norfolk Southern by 1.8% during the 3rd quarter. abrdn plc now owns 404,666 shares of the railroad operator’s stock worth $100,203,000 after acquiring an additional 7,236 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of Norfolk Southern in the 3rd quarter valued at about $230,000. Finally, Pallas Capital Advisors LLC lifted its position in Norfolk Southern by 17.3% in the 3rd quarter. Pallas Capital Advisors LLC now owns 1,162 shares of the railroad operator’s stock valued at $294,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NSC shares. UBS Group boosted their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI dropped their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Susquehanna boosted their target price on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Barclays boosted their target price on shares of Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Benchmark lifted their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern Stock Performance

NYSE:NSC traded down $0.71 during trading hours on Tuesday, hitting $252.88. 32,075 shares of the company traded hands, compared to its average volume of 1,252,198. The stock has a market capitalization of $57.21 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 2.38 and a beta of 1.31. Norfolk Southern Co. has a twelve month low of $184.62 and a twelve month high of $263.66. The firm has a 50-day moving average of $249.47 and a 200 day moving average of $236.82. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.65 EPS. On average, analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is currently 50.70%.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Norfolk Southern news, Director Sameh Fahmy bought 700 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the transaction, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Company 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.