Strategy Asset Managers LLC Boosts Position in Norfolk Southern Corp. (NSC)

Strategy Asset Managers LLC raised its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,410 shares of the railroad operator’s stock after purchasing an additional 210 shares during the quarter. Strategy Asset Managers LLC’s holdings in Norfolk Southern were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Level Four Advisory Services LLC grew its holdings in shares of Norfolk Southern by 3.0% in the fourth quarter. Level Four Advisory Services LLC now owns 2,054 shares of the railroad operator’s stock worth $307,000 after purchasing an additional 60 shares during the last quarter. Vectors Research Management LLC lifted its stake in Norfolk Southern by 12.0% in the fourth quarter. Vectors Research Management LLC now owns 577 shares of the railroad operator’s stock worth $86,000 after acquiring an additional 62 shares during the period. Savant Capital LLC lifted its stake in Norfolk Southern by 1.2% in the fourth quarter. Savant Capital LLC now owns 5,930 shares of the railroad operator’s stock worth $887,000 after acquiring an additional 72 shares during the period. Stratos Wealth Partners LTD. lifted its stake in Norfolk Southern by 0.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 11,083 shares of the railroad operator’s stock worth $1,657,000 after acquiring an additional 72 shares during the period. Finally, Stony Point Wealth Management Inc. lifted its stake in Norfolk Southern by 5.0% in the fourth quarter. Stony Point Wealth Management Inc. now owns 1,589 shares of the railroad operator’s stock worth $238,000 after acquiring an additional 75 shares during the period. 73.26% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on NSC shares. Zacks Investment Research raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $200.00 price objective for the company in a research report on Friday, March 8th. Loop Capital raised their price objective on Norfolk Southern to $210.00 and gave the company a “buy” rating in a research report on Monday, February 11th. Morgan Stanley raised their price objective on Norfolk Southern from $116.00 to $133.00 and gave the company an “underweight” rating in a research report on Tuesday, February 12th. Argus reissued a “buy” rating on shares of Norfolk Southern in a research report on Thursday, January 3rd. Finally, Royal Bank of Canada lowered Norfolk Southern from a “sector perform” rating to an “underperform” rating and lowered their price objective for the company from $180.00 to $178.00 in a research report on Tuesday, February 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. Norfolk Southern currently has an average rating of “Hold” and an average target price of $185.37.

Shares of NSC traded down $0.95 during trading hours on Wednesday, hitting $177.83. The company had a trading volume of 14,153 shares, compared to its average volume of 1,461,618. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.72 and a quick ratio of 0.64. The firm has a market cap of $47.81 billion, a PE ratio of 18.77, a P/E/G ratio of 1.58 and a beta of 1.43. Norfolk Southern Corp. has a 52-week low of $127.79 and a 52-week high of $186.91.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, January 24th. The railroad operator reported $2.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.27. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.85 billion. Norfolk Southern had a return on equity of 16.71% and a net margin of 23.27%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.69 EPS. As a group, sell-side analysts anticipate that Norfolk Southern Corp. will post 10.42 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 4th were issued a $0.86 dividend. The ex-dividend date was Friday, February 1st. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.80. This represents a $3.44 dividend on an annualized basis and a yield of 1.93%. Norfolk Southern’s payout ratio is currently 36.17%.

In other news, COO Michael Joseph Wheeler sold 4,761 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $180.23, for a total transaction of $858,075.03. Following the transaction, the chief operating officer now owns 19,724 shares of the company’s stock, valued at approximately $3,554,856.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jason Andrew Zampi sold 519 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $181.34, for a total value of $94,115.46. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

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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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