Norfolk Southern Corp. (NYSE:NSC) Shares Acquired by Moors & Cabot Inc.

Moors & Cabot Inc. lifted its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,601 shares of the railroad operator’s stock after acquiring an additional 2,186 shares during the quarter. Moors & Cabot Inc.’s holdings in Norfolk Southern were worth $5,859,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Nippon Life Global Investors Americas Inc. grew its position in Norfolk Southern by 229.5% during the third quarter. Nippon Life Global Investors Americas Inc. now owns 79,480 shares of the railroad operator’s stock worth $14,280,000 after buying an additional 55,360 shares during the period. Calamos Advisors LLC grew its position in Norfolk Southern by 7.1% during the third quarter. Calamos Advisors LLC now owns 42,328 shares of the railroad operator’s stock worth $7,605,000 after buying an additional 2,816 shares during the period. Baxter Bros Inc. grew its position in Norfolk Southern by 0.4% during the third quarter. Baxter Bros Inc. now owns 24,383 shares of the railroad operator’s stock worth $4,381,000 after buying an additional 104 shares during the period. Brinker Capital Inc. grew its position in Norfolk Southern by 50.4% during the third quarter. Brinker Capital Inc. now owns 20,606 shares of the railroad operator’s stock worth $3,702,000 after buying an additional 6,909 shares during the period. Finally, Stephens Inc. AR grew its position in Norfolk Southern by 14.5% during the third quarter. Stephens Inc. AR now owns 15,252 shares of the railroad operator’s stock worth $2,740,000 after buying an additional 1,931 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

In other Norfolk Southern news, Director Jennifer F. Scanlon purchased 525 shares of Norfolk Southern stock in a transaction on Monday, July 29th. The shares were bought at an average price of $191.52 per share, with a total value of $100,548.00. Following the completion of the acquisition, the director now directly owns 525 shares of the company’s stock, valued at $100,548. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.19% of the stock is owned by corporate insiders.

Several research analysts have weighed in on NSC shares. ValuEngine lowered shares of Norfolk Southern from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group lowered their target price on shares of Norfolk Southern from $230.00 to $216.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. TD Securities lowered their target price on shares of Norfolk Southern from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Cascend Securities lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Goldman Sachs Group started coverage on shares of Norfolk Southern in a research report on Wednesday, July 10th. They set a “buy” rating and a $237.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $203.78.

Shares of NYSE NSC traded up $1.77 on Tuesday, hitting $187.96. The company’s stock had a trading volume of 1,258,897 shares, compared to its average volume of 1,613,940. Norfolk Southern Corp. has a 12-month low of $138.65 and a 12-month high of $211.46. The company has a market capitalization of $47.92 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.65 and a beta of 1.36. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.78 and a quick ratio of 0.68. The stock has a 50 day moving average of $177.88 and a 200-day moving average of $189.72.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.77 by ($0.07). Norfolk Southern had a net margin of 24.15% and a return on equity of 18.24%. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the company earned $2.50 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts expect that Norfolk Southern Corp. will post 10.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 1st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.00%. Norfolk Southern’s dividend payout ratio (DPR) is presently 39.54%.

Norfolk Southern Company 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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