Mutual Advisors LLC Invests $436,000 in Norfolk Southern Corp. (NSC)

Mutual Advisors LLC acquired a new position in shares of Norfolk Southern Corp. (NYSE:NSC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,891 shares of the railroad operator’s stock, valued at approximately $436,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Norfolk Southern by 1.6% during the 1st quarter. BlackRock Inc. now owns 21,254,266 shares of the railroad operator’s stock worth $2,885,904,000 after purchasing an additional 329,245 shares during the period. FMR LLC grew its stake in shares of Norfolk Southern by 8.6% during the 2nd quarter. FMR LLC now owns 7,036,787 shares of the railroad operator’s stock worth $1,061,640,000 after purchasing an additional 555,871 shares during the period. American Century Companies Inc. grew its stake in shares of Norfolk Southern by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 1,331,269 shares of the railroad operator’s stock worth $200,849,000 after purchasing an additional 25,275 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Norfolk Southern by 1.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,074,816 shares of the railroad operator’s stock worth $162,158,000 after purchasing an additional 13,072 shares during the period. Finally, Swiss National Bank grew its stake in shares of Norfolk Southern by 2.3% during the 2nd quarter. Swiss National Bank now owns 939,247 shares of the railroad operator’s stock worth $141,704,000 after purchasing an additional 21,100 shares during the period. 72.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:NSC opened at $179.40 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 0.81. The company has a market cap of $49.85 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.62 and a beta of 1.41. Norfolk Southern Corp. has a 1 year low of $125.59 and a 1 year high of $180.32.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.19. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.87 billion. Norfolk Southern had a return on equity of 14.53% and a net margin of 52.36%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.71 EPS. sell-side analysts expect that Norfolk Southern Corp. will post 9.13 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Monday, August 6th were issued a $0.80 dividend. The ex-dividend date was Friday, August 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.78%. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.72. Norfolk Southern’s dividend payout ratio (DPR) is presently 48.41%.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, June 26th. Citigroup upgraded Norfolk Southern from a “neutral” rating to a “buy” rating and set a $176.00 target price on the stock in a research report on Monday, June 25th. Stifel Nicolaus started coverage on Norfolk Southern in a research report on Thursday, May 24th. They set a “hold” rating and a $158.00 target price on the stock. Argus increased their target price on Norfolk Southern from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Finally, Scotiabank set a $175.00 target price on Norfolk Southern and gave the company a “buy” rating in a research report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. Norfolk Southern has a consensus rating of “Hold” and a consensus target price of $164.42.

In other Norfolk Southern news, Chairman James A. Squires sold 34,077 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $171.73, for a total value of $5,852,043.21. Following the transaction, the chairman now owns 63,958 shares in the company, valued at approximately $10,983,507.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Cynthia C. Earhart sold 2,370 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total value of $414,963.30. Following the completion of the transaction, the vice president now owns 2,370 shares in the company, valued at approximately $414,963.30. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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

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