1,130 Shares in Norfolk Southern Co. (NYSE:NSC) Acquired by Buckingham Strategic Partners

Buckingham Strategic Partners bought a new position in Norfolk Southern Co. (NYSE:NSCGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,130 shares of the railroad operator’s stock, valued at approximately $323,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Norfolk Southern in the 4th quarter worth approximately $625,050,000. BlackRock Inc. boosted its position in shares of Norfolk Southern by 7.4% during the 4th quarter. BlackRock Inc. now owns 16,718,778 shares of the railroad operator’s stock valued at $4,977,349,000 after acquiring an additional 1,148,493 shares during the last quarter. Artemis Investment Management LLP boosted its position in shares of Norfolk Southern by 28.6% during the 4th quarter. Artemis Investment Management LLP now owns 665,606 shares of the railroad operator’s stock valued at $197,931,000 after acquiring an additional 148,099 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Norfolk Southern by 102.7% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 239,653 shares of the railroad operator’s stock valued at $68,354,000 after acquiring an additional 121,410 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Norfolk Southern by 12.3% during the 1st quarter. Swiss National Bank now owns 1,053,962 shares of the railroad operator’s stock valued at $300,611,000 after acquiring an additional 115,300 shares during the last quarter. 73.63% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $257.61 on Wednesday. The firm has a market cap of $60.50 billion, a P/E ratio of 20.51, a P/E/G ratio of 1.90 and a beta of 1.32. The company has a current ratio of 1.10, a quick ratio of 0.98 and a debt-to-equity ratio of 1.10. Norfolk Southern Co. has a 12 month low of $217.00 and a 12 month high of $299.20. The stock’s fifty day moving average price is $236.03 and its 200-day moving average price is $252.73.

Norfolk Southern (NYSE:NSCGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The railroad operator reported $3.45 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.03). Norfolk Southern had a net margin of 25.57% and a return on equity of 22.42%. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the business posted $3.28 EPS. The business’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts expect that Norfolk Southern Co. will post 13.67 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, August 20th. Investors of record on Monday, August 8th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, August 5th. Norfolk Southern’s payout ratio is currently 39.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NSC shares. Citigroup downgraded Norfolk Southern from a “buy” rating to a “neutral” rating and lowered their target price for the company from $345.00 to $260.00 in a research report on Thursday, May 19th. JPMorgan Chase & Co. downgraded Norfolk Southern from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $306.00 to $258.00 in a research report on Tuesday, July 12th. Stifel Nicolaus upgraded Norfolk Southern from a “hold” rating to a “buy” rating and lowered their target price for the company from $289.00 to $275.00 in a research report on Friday, July 15th. They noted that the move was a valuation call. Cowen decreased their price target on Norfolk Southern from $331.00 to $316.00 in a report on Thursday, July 28th. Finally, Stephens decreased their price target on Norfolk Southern from $244.00 to $243.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $283.10.

Insider Activity at Norfolk Southern

In related news, CEO Alan H. Shaw sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $241.84, for a total transaction of $241,840.00. Following the sale, the chief executive officer now owns 34,255 shares of the company’s stock, valued at $8,284,229.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Norfolk Southern news, Director James A. Squires sold 105,420 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $248.81, for a total value of $26,229,550.20. Following the completion of the sale, the director now owns 42,728 shares of the company’s stock, valued at $10,631,153.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $241.84, for a total value of $241,840.00. Following the completion of the sale, the chief executive officer now directly owns 34,255 shares of the company’s stock, valued at approximately $8,284,229.20. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

About Norfolk Southern

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Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.

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

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