Mendel Money Management Acquires 67 Shares of Norfolk Southern Corporation $NSC

Mendel Money Management grew its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 2,429 shares of the railroad operator’s stock after purchasing an additional 67 shares during the period. Mendel Money Management’s holdings in Norfolk Southern were worth $622,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NSC. Brighton Jones LLC raised its holdings in shares of Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Norfolk Southern by 20.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,175 shares of the railroad operator’s stock valued at $5,343,000 after buying an additional 3,929 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in Norfolk Southern by 531.4% in the 1st quarter. Sunbelt Securities Inc. now owns 221 shares of the railroad operator’s stock worth $52,000 after acquiring an additional 186 shares during the period. Golden State Wealth Management LLC raised its holdings in Norfolk Southern by 883.3% in the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock worth $42,000 after acquiring an additional 159 shares during the period. Finally, Amalgamated Bank raised its holdings in Norfolk Southern by 1.2% in the 1st quarter. Amalgamated Bank now owns 43,851 shares of the railroad operator’s stock worth $10,386,000 after acquiring an additional 507 shares during the period. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. Loop Capital lifted their target price on shares of Norfolk Southern from $235.00 to $278.00 and gave the stock a “hold” rating in a report on Tuesday, September 16th. UBS Group dropped their target price on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a report on Friday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of Norfolk Southern from $288.00 to $303.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Finally, TD Cowen dropped their target price on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $299.70.

Insiders Place Their Bets

In other Norfolk Southern news, Director Richard H. Anderson bought 2,600 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average price of $281.86 per share, with a total value of $732,836.00. Following the completion of the purchase, the director directly owned 7,000 shares in the company, valued at $1,973,020. The trade was a 59.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Norfolk Southern Stock Performance

NYSE NSC opened at $280.83 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78. The firm has a market capitalization of $63.02 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 2.55 and a beta of 1.33. The company’s fifty day moving average is $285.72 and its two-hundred day moving average is $263.74. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $302.24.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by ($0.01). The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.25 earnings per share. Equities research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, November 7th. Norfolk Southern’s payout ratio is 41.19%.

About Norfolk Southern

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, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; 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.