Mn Services Vermogensbeheer B.V. Grows Holdings in Norfolk Southern Co. (NYSE:NSC)

Mn Services Vermogensbeheer B.V. increased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 1.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 38,460 shares of the railroad operator’s stock after purchasing an additional 400 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Norfolk Southern were worth $9,557,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in Norfolk Southern during the third quarter worth $25,000. Cedar Wealth Management LLC acquired a new position in Norfolk Southern during the 1st quarter worth about $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern during the 2nd quarter valued at about $27,000. Financial Connections Group Inc. acquired a new position in Norfolk Southern in the 2nd quarter valued at about $31,000. Finally, HWG Holdings LP purchased a new stake in Norfolk Southern during the second quarter worth about $31,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction dated 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 approximately $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sameh Fahmy purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on NSC shares. Stephens reissued an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Benchmark increased their price objective on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein lifted their target price on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, TD Cowen upped their price target on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern Stock Up 1.8 %

Norfolk Southern stock opened at $252.17 on Wednesday. The stock has a 50-day simple moving average of $250.55 and a 200-day simple moving average of $237.17. The company has a market capitalization of $57.05 billion, a P/E ratio of 23.68, a PEG ratio of 2.37 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern Co. has a fifty-two week low of $192.53 and a fifty-two week high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 earnings per share. Equities research analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given 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%.

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.