Advisor OS LLC Purchases Shares of 987 Norfolk Southern Co. (NYSE:NSC)

Posted by Defense World Staff on Jul 10th, 2023

Advisor OS LLC bought a new position in Norfolk Southern Co. (NYSE:NSC – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 987 shares of the railroad operator’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its stake in shares of Norfolk Southern by 95,518.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,028,232 shares of the railroad operator’s stock worth $746,217,000 after purchasing an additional 3,025,065 shares in the last quarter. Norges Bank acquired a new position in Norfolk Southern during the 4th quarter worth approximately $537,007,000. Gibson Wealth Advisors LLC boosted its holdings in Norfolk Southern by 6,200.0% in the 4th quarter. Gibson Wealth Advisors LLC now owns 1,430,667 shares of the railroad operator’s stock worth $338,456,000 after acquiring an additional 1,407,958 shares during the period. Price T Rowe Associates Inc. MD grew its position in Norfolk Southern by 86.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,724,821 shares of the railroad operator’s stock valued at $671,451,000 after acquiring an additional 1,265,666 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Norfolk Southern by 33.5% during the fourth quarter. Morgan Stanley now owns 2,546,214 shares of the railroad operator’s stock valued at $627,438,000 after purchasing an additional 638,384 shares during the period. Institutional investors and hedge funds own 71.97% of the company’s stock.

Norfolk Southern Trading Down 0.2 %

Shares of NYSE:NSC opened at $226.72 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.15. The company’s 50-day moving average price is $216.32 and its 200 day moving average price is $223.61. The company has a market cap of $51.61 billion, a PE ratio of 17.43, a P/E/G ratio of 2.41 and a beta of 1.29. Norfolk Southern Co. has a fifty-two week low of $196.33 and a fifty-two week high of $264.22.

Norfolk Southern (NYSE:NSC – Free Report) last released its quarterly earnings results on Wednesday, April 26th. The railroad operator reported $3.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.17. Norfolk Southern had a return on equity of 25.76% and a net margin of 23.40%. The company had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that Norfolk Southern Co. will post 13.33 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, May 20th. Stockholders of record on Friday, May 5th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Thursday, May 4th. Norfolk Southern’s dividend payout ratio (DPR) is 41.51%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NSC. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Norfolk Southern from $266.00 to $258.00 in a report on Monday, March 20th. Wells Fargo & Company upgraded Norfolk Southern from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $225.00 to $250.00 in a research note on Monday, May 22nd. Barclays cut their price target on Norfolk Southern from $250.00 to $235.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 27th. 1-800-FLOWERS.COM restated a “maintains” rating on shares of Norfolk Southern in a research note on Thursday, April 27th. Finally, JPMorgan Chase & Co. raised Norfolk Southern from a “neutral” rating to an “overweight” rating and set a $250.00 target price on the stock in a research report on Thursday, May 11th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and an average target price of $242.48.

Insider Activity at Norfolk Southern

In related news, CEO Alan H. Shaw sold 2,000 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $209.55, for a total value of $419,100.00. Following the completion of the transaction, the chief executive officer now owns 30,654 shares in the company, valued at approximately $6,423,545.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Norfolk Southern 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.