Norfolk Southern Corp. (NYSE:NSC) Shares Bought by Williams Jones & Associates LLC

Williams Jones & Associates LLC lifted its holdings in Norfolk Southern Corp. (NYSE:NSC) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,280 shares of the railroad operator’s stock after acquiring an additional 205 shares during the period. Williams Jones & Associates LLC’s holdings in Norfolk Southern were worth $2,482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of NSC. Oregon Public Employees Retirement Fund lifted its position in shares of Norfolk Southern by 14,153.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,774,792 shares of the railroad operator’s stock worth $152,000 after buying an additional 22,615,008 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Norfolk Southern by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 21,159,132 shares of the railroad operator’s stock worth $3,819,223,000 after buying an additional 336,725 shares in the last quarter. BlackRock Inc. lifted its position in shares of Norfolk Southern by 0.9% during the 4th quarter. BlackRock Inc. now owns 20,052,895 shares of the railroad operator’s stock worth $2,998,712,000 after buying an additional 169,821 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Norfolk Southern by 3.5% during the 1st quarter. JPMorgan Chase & Co. now owns 12,864,410 shares of the railroad operator’s stock worth $2,404,230,000 after buying an additional 430,110 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Norfolk Southern by 27.7% during the 1st quarter. Lazard Asset Management LLC now owns 7,333,967 shares of the railroad operator’s stock worth $1,370,644,000 after buying an additional 1,592,303 shares in the last quarter. 72.84% of the stock is owned by hedge funds and other institutional investors.

Several research firms have commented on NSC. Deutsche Bank dropped their target price on shares of Norfolk Southern from $198.00 to $196.00 and set a “hold” rating on the stock in a research report on Wednesday. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $226.00 target price on the stock in a research report on Thursday, May 9th. Argus lifted their price target on shares of Norfolk Southern from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Morgan Stanley lifted their price target on shares of Norfolk Southern from $133.00 to $138.00 and gave the stock an “underweight” rating in a report on Monday, April 29th. Finally, Loop Capital lifted their price target on shares of Norfolk Southern to $237.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. Norfolk Southern has an average rating of “Buy” and an average target price of $203.11.

NSC stock traded up $0.62 during midday trading on Wednesday, reaching $199.59. 569,993 shares of the company’s stock traded hands, compared to its average volume of 1,560,865. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.67 and a quick ratio of 0.59. Norfolk Southern Corp. has a 52 week low of $138.65 and a 52 week high of $211.46. The stock has a market capitalization of $54.00 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 1.55 and a beta of 1.38.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.34. Norfolk Southern had a net margin of 24.10% and a return on equity of 17.80%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Norfolk Southern Corp. will post 10.89 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 3rd were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $3.44 dividend on an annualized basis and a yield of 1.72%. Norfolk Southern’s payout ratio is 36.17%.

In other Norfolk Southern news, Chairman James A. Squires sold 3,024 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total transaction of $619,043.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Joseph Wheeler sold 2,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $204.57, for a total transaction of $511,425.00. Following the sale, the chief operating officer now directly owns 12,919 shares in the company, valued at approximately $2,642,839.83. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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