Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Garner Asset Management Corp

Garner Asset Management Corp grew its position in Norfolk Southern Co. (NYSE:NSCFree Report) by 3.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,168 shares of the railroad operator’s stock after acquiring an additional 97 shares during the quarter. Garner Asset Management Corp’s holdings in Norfolk Southern were worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in shares of Norfolk Southern in the third quarter valued at approximately $25,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern in the second quarter valued at approximately $27,000. Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern in the second quarter valued at approximately $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern in the second quarter valued at approximately $31,000. Finally, Coastline Trust Co acquired a new stake in shares of Norfolk Southern in the third quarter valued at approximately $32,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $268.95 on Friday. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The company has a market cap of $60.85 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 2.51 and a beta of 1.30. The business has a fifty day moving average of $253.90 and a two-hundred day moving average of $239.90. 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 (NYSE:NSCGet Free Report) last announced its quarterly earnings results 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. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the business posted $2.65 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Insider Buying and Selling

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated 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 approximately $8,970,819.10. This trade represents a 59.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $2,550,000. This represents a 11.11 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NSC shares. Sanford C. Bernstein increased their price target on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Benchmark increased their price target on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. UBS Group increased their price target on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI decreased their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group increased their price target on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $275.68.

View Our Latest Research Report on Norfolk Southern

Norfolk Southern Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Co. (NYSE:NSCFree Report).

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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