Moneta Group Investment Advisors LLC Boosts Stake in Norfolk Southern Corp. (NSC)

Moneta Group Investment Advisors LLC lifted its holdings in Norfolk Southern Corp. (NYSE:NSC) by 183.5% during the first quarter, Holdings Channel reports. The institutional investor owned 2,041 shares of the railroad operator’s stock after buying an additional 1,321 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Norfolk Southern were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Norfolk Southern by 1.6% in the 1st quarter. BlackRock Inc. now owns 21,254,266 shares of the railroad operator’s stock worth $2,885,904,000 after buying an additional 329,245 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Norfolk Southern by 4.5% in the 4th quarter. Alliancebernstein L.P. now owns 4,737,233 shares of the railroad operator’s stock worth $686,425,000 after buying an additional 205,394 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Norfolk Southern by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,819,766 shares of the railroad operator’s stock worth $407,666,000 after buying an additional 58,309 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Norfolk Southern by 4.8% during the 4th quarter. Deutsche Bank AG now owns 1,726,899 shares of the railroad operator’s stock worth $250,220,000 after purchasing an additional 78,610 shares during the period. Finally, Investec Asset Management LTD boosted its stake in shares of Norfolk Southern by 1.2% during the 4th quarter. Investec Asset Management LTD now owns 1,634,634 shares of the railroad operator’s stock worth $236,858,000 after purchasing an additional 19,557 shares during the period. Hedge funds and other institutional investors own 73.01% of the company’s stock.

In other news, VP Thomas E. Hurlbut sold 2,762 shares of the company’s stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $145.51, for a total value of $401,898.62. Following the completion of the sale, the vice president now owns 5,432 shares of the company’s stock, valued at approximately $790,410.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cynthia C. Earhart sold 6,588 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $150.93, for a total transaction of $994,326.84. Following the completion of the sale, the chief financial officer now directly owns 6,588 shares of the company’s stock, valued at approximately $994,326.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,110 shares of company stock valued at $2,118,405. 0.36% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on NSC shares. Zacks Investment Research cut shares of Norfolk Southern from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. Credit Suisse Group dropped their price target on shares of Norfolk Southern from $166.00 to $164.00 and set an “outperform” rating for the company in a research note on Thursday, March 15th. Royal Bank of Canada reaffirmed a “hold” rating and set a $145.00 price target on shares of Norfolk Southern in a research note on Tuesday, April 10th. ValuEngine cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, Cowen reaffirmed an “outperform” rating and set a $163.00 price target (down from $165.00) on shares of Norfolk Southern in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $146.52.

Norfolk Southern opened at $152.06 on Thursday, MarketBeat Ratings reports. The stock has a market capitalization of $42.64 billion, a price-to-earnings ratio of 23.00, a P/E/G ratio of 1.47 and a beta of 1.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.04 and a quick ratio of 0.94. Norfolk Southern Corp. has a 1 year low of $111.44 and a 1 year high of $157.15.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 25th. The railroad operator reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.16. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Norfolk Southern had a net margin of 51.65% and a return on equity of 14.04%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 EPS. research analysts expect that Norfolk Southern Corp. will post 8.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 4th will be given a $0.72 dividend. The ex-dividend date is Thursday, May 3rd. This represents a $2.88 annualized dividend and a yield of 1.89%. Norfolk Southern’s dividend payout ratio (DPR) is 43.57%.

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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