Bessemer Group Inc. Sells 1,319 Shares of Norfolk Southern Corporation $NSC

Bessemer Group Inc. cut its holdings in Norfolk Southern Corporation (NYSE:NSC) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,693 shares of the railroad operator’s stock after selling 1,319 shares during the quarter. Bessemer Group Inc.’s holdings in Norfolk Southern were worth $4,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Norfolk Southern by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator’s stock valued at $4,813,114,000 after acquiring an additional 232,195 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Norfolk Southern by 31.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock valued at $2,680,910,000 after acquiring an additional 2,710,930 shares in the last quarter. Boston Partners boosted its position in Norfolk Southern by 3.4% during the 1st quarter. Boston Partners now owns 4,159,070 shares of the railroad operator’s stock valued at $983,161,000 after acquiring an additional 138,678 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in Norfolk Southern by 0.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator’s stock valued at $947,006,000 after acquiring an additional 29,753 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Norfolk Southern by 6.4% during the 1st quarter. American Century Companies Inc. now owns 3,128,102 shares of the railroad operator’s stock valued at $740,891,000 after acquiring an additional 189,076 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays lifted their price objective on Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. TD Cowen lowered their price objective on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Royal Bank Of Canada lowered their price objective on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating on the stock in a research report on Friday, October 24th. Evercore ISI boosted their target price on shares of Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. Finally, Susquehanna boosted their target price on shares of Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Norfolk Southern currently has an average rating of “Hold” and a consensus price target of $299.70.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Richard H. Anderson bought 2,600 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were purchased 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 owned 7,000 shares in the company, valued at $1,973,020. This represents a 59.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

Norfolk Southern Stock Down 0.3%

Shares of NYSE:NSC opened at $279.42 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. The company has a 50-day moving average price of $285.60 and a 200 day moving average price of $264.17. The company has a market cap of $62.70 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.52 and a beta of 1.33.

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

Norfolk Southern Dividend Announcement

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 paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio is currently 41.19%.

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 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.