State of New Jersey Common Pension Fund D decreased its position in Norfolk Southern Co. (NYSE:NSC) by 5.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 164,815 shares of the railroad operator’s stock after selling 9,616 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of Norfolk Southern worth $35,269,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of NSC. HWG Holdings LP acquired a new stake in shares of Norfolk Southern during the second quarter valued at $26,000. NuWave Investment Management LLC acquired a new stake in shares of Norfolk Southern during the second quarter valued at $29,000. CX Institutional boosted its stake in shares of Norfolk Southern by 128.4% during the second quarter. CX Institutional now owns 185 shares of the railroad operator’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Rockbridge Investment Management LCC acquired a new stake in shares of Norfolk Southern during the second quarter valued at $36,000. Finally, Hoover Financial Advisors Inc. acquired a new stake in shares of Norfolk Southern during the second quarter valued at $39,000. 66.94% of the stock is currently owned by institutional investors.
NSC has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Norfolk Southern from $176.00 to $190.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. BMO Capital Markets increased their price objective on Norfolk Southern from $220.00 to $230.00 and gave the company a “market perform” rating in a research note on Thursday. CSFB increased their target price on Norfolk Southern from $241.00 to $246.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Cowen increased their target price on Norfolk Southern from $208.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Finally, TD Securities upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $213.00.
Shares of NSC stock opened at $205.62 on Friday. The company has a market capitalization of $56.63 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 3.27 and a beta of 1.37. The firm has a fifty day simple moving average of $216.00 and a 200-day simple moving average of $190.92. The company has a current ratio of 1.21, a quick ratio of 1.08 and a debt-to-equity ratio of 0.85. Norfolk Southern Co. has a twelve month low of $112.62 and a twelve month high of $224.99.
Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, October 28th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.15. Norfolk Southern had a net margin of 20.47% and a return on equity of 16.06%. Equities research analysts predict that Norfolk Southern Co. will post 9 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 6th will be issued a $0.94 dividend. The ex-dividend date is Thursday, November 5th. This represents a $3.76 annualized dividend and a yield of 1.83%. Norfolk Southern’s dividend payout ratio is presently 36.36%.
In other Norfolk Southern news, COO Michael Joseph Wheeler sold 1,788 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $210.51, for a total transaction of $376,391.88. Following the sale, the chief operating officer now directly owns 11,058 shares of the company’s stock, valued at $2,327,819.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by corporate insiders.
Norfolk Southern Profile
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 industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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