Buckingham Strategic Wealth LLC Has $20.41 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Buckingham Strategic Wealth LLC boosted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 85,303 shares of the railroad operator’s stock after buying an additional 159 shares during the period. Buckingham Strategic Wealth LLC’s holdings in Norfolk Southern were worth $20,409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. SRS Capital Advisors Inc. grew its stake in shares of Norfolk Southern by 51.8% in the third quarter. SRS Capital Advisors Inc. now owns 126 shares of the railroad operator’s stock valued at $30,000 after buying an additional 43 shares in the last quarter. Parisi Gray Wealth Management acquired a new position in Norfolk Southern in the second quarter valued at about $48,000. GeoWealth Management LLC acquired a new position in Norfolk Southern during the second quarter worth about $57,000. Strategic Blueprint LLC bought a new stake in shares of Norfolk Southern during the second quarter worth about $66,000. Finally, Carderock Capital Management Inc. bought a new stake in Norfolk Southern in the third quarter valued at approximately $72,000. 71.79% of the stock is owned by institutional investors.

Shares of Norfolk Southern stock traded down $2.11 during trading hours on Friday, reaching $287.95. 14,693 shares of the company were exchanged, compared to its average volume of 1,043,790. Norfolk Southern Co. has a 1 year low of $230.15 and a 1 year high of $299.20. The stock’s fifty day moving average is $284.03 and its 200 day moving average is $269.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.03 and a current ratio of 1.13. The firm has a market cap of $70.07 billion, a PE ratio of 24.92, a PEG ratio of 1.57 and a beta of 1.36.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, October 27th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.15. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Norfolk Southern had a net margin of 26.84% and a return on equity of 20.24%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.51 earnings per share. Research analysts expect that Norfolk Southern Co. will post 12.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Friday, November 5th were paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Thursday, November 4th. Norfolk Southern’s dividend payout ratio is presently 37.46%.

In other Norfolk Southern news, CMO Alan H. Shaw sold 1,000 shares of the business’s stock in a transaction dated Wednesday, December 1st. The shares were sold at an average price of $272.73, for a total transaction of $272,730.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Clyde H. Allison, Jr. sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 28th. The shares were sold at an average price of $290.13, for a total transaction of $1,450,650.00. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

NSC has been the subject of a number of analyst reports. Stephens lowered Norfolk Southern from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $325.00 to $310.00 in a research report on Tuesday, January 4th. Wells Fargo & Company raised their price target on Norfolk Southern from $316.00 to $337.00 and gave the company an “overweight” rating in a report on Monday. TD Securities raised their price objective on Norfolk Southern from $315.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 28th. Susquehanna Bancshares raised their price objective on Norfolk Southern from $324.00 to $335.00 and gave the company a “positive” rating in a report on Thursday, October 28th. Finally, Royal Bank of Canada raised their price target on Norfolk Southern from $232.00 to $262.00 and gave the stock an “underperform” rating in a research report on Thursday, October 28th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $298.45.

Norfolk Southern Profile

Norfolk Southern Corp. is a transportation company, which owns a freight railroad. It engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States.

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

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