Bahl & Gaynor Inc. Has $1.88 Million Holdings in Norfolk Southern Corp. (NSC)

Bahl & Gaynor Inc. raised its holdings in Norfolk Southern Corp. (NYSE:NSC) by 14.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,412 shares of the railroad operator’s stock after acquiring an additional 1,348 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Norfolk Southern were worth $1,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its stake in shares of Norfolk Southern by 8.6% in the second quarter. FMR LLC now owns 7,036,787 shares of the railroad operator’s stock worth $1,061,640,000 after buying an additional 555,871 shares during the last quarter. Artemis Investment Management LLP lifted its stake in shares of Norfolk Southern by 21.3% in the third quarter. Artemis Investment Management LLP now owns 1,462,459 shares of the railroad operator’s stock worth $263,981,000 after buying an additional 256,367 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Norfolk Southern by 1.9% in the second quarter. American Century Companies Inc. now owns 1,331,269 shares of the railroad operator’s stock worth $200,849,000 after buying an additional 25,275 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Norfolk Southern by 1.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,074,816 shares of the railroad operator’s stock worth $162,158,000 after buying an additional 13,072 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Norfolk Southern by 2.3% in the second quarter. Swiss National Bank now owns 939,247 shares of the railroad operator’s stock worth $141,704,000 after buying an additional 21,100 shares during the last quarter. Hedge funds and other institutional investors own 73.14% of the company’s stock.

A number of brokerages have recently weighed in on NSC. Zacks Investment Research upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research note on Monday, October 8th. Loop Capital boosted their price objective on shares of Norfolk Southern to $179.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. Morgan Stanley boosted their price objective on shares of Norfolk Southern from $112.00 to $116.00 and gave the stock a “sell” rating in a research note on Tuesday, October 9th. Argus boosted their price objective on shares of Norfolk Southern from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Finally, Stifel Nicolaus upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $189.00 price objective for the company in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $176.21.

Shares of NSC stock opened at $163.90 on Friday. Norfolk Southern Corp. has a 1 year low of $126.40 and a 1 year high of $186.91. The firm has a market cap of $45.28 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.50 and a beta of 1.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.75 and a current ratio of 0.86.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.08. Norfolk Southern had a net margin of 52.82% and a return on equity of 15.12%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the firm posted $1.75 earnings per share. Norfolk Southern’s revenue was up 10.4% compared to the same quarter last year. Analysts predict that Norfolk Southern Corp. will post 9.26 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 2nd will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is currently 48.41%.

In other Norfolk Southern news, COO Michael Joseph Wheeler sold 801 shares of the business’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $172.55, for a total value of $138,212.55. Following the sale, the chief operating officer now owns 9,406 shares of the company’s stock, valued at approximately $1,623,005.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Cynthia C. Earhart sold 2,370 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total transaction of $414,963.30. Following the completion of the sale, the vice president now directly owns 2,370 shares in the company, valued at approximately $414,963.30. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

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Norfolk Southern Company Profile

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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