Malaga Cove Capital LLC Purchases 1,058 Shares of Norfolk Southern Corporation $NSC

Malaga Cove Capital LLC increased its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 43.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,509 shares of the railroad operator’s stock after buying an additional 1,058 shares during the quarter. Malaga Cove Capital LLC’s holdings in Norfolk Southern were worth $898,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Norfolk Southern by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator’s stock worth $4,813,114,000 after acquiring an additional 232,195 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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 worth $2,680,910,000 after buying an additional 2,710,930 shares in the last quarter. Boston Partners boosted its stake in shares of Norfolk Southern by 3.4% during the 1st quarter. Boston Partners now owns 4,159,070 shares of the railroad operator’s stock worth $983,161,000 after buying an additional 138,678 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Norfolk Southern by 0.7% in 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. increased its position in shares of Norfolk Southern by 6.4% in the first 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 during the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NYSE:NSC opened at $282.01 on Friday. The firm’s fifty day moving average price is $286.04 and its two-hundred day moving average price is $266.52. 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 company has a market cap of $63.28 billion, a P/E ratio of 21.51, a P/E/G ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $302.24.

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 company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $3.25 EPS. Equities analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, November 7th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 41.19%.

Analysts Set New Price Targets

Several brokerages recently commented on NSC. JPMorgan Chase & Co. increased their price target on Norfolk Southern from $288.00 to $303.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Citigroup decreased their target price on shares of Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Susquehanna upped their price target on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. Sanford C. Bernstein lifted their price objective on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Finally, BMO Capital Markets boosted their price objective on shares of Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, Norfolk Southern presently has an average rating of “Hold” and a consensus target price of $299.70.

Insider Activity at Norfolk Southern

In other news, Director Richard H. Anderson purchased 2,600 shares of Norfolk Southern stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the purchase, the director directly owned 7,000 shares of the company’s stock, valued at $1,973,020. This trade represents a 59.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy acquired 1,650 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was purchased at an average cost of $282.97 per share, for a total transaction of $466,900.50. Following the completion of the acquisition, the director owned 12,000 shares in the company, valued at approximately $3,395,640. This represents a 15.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.06% of the company’s stock.

Norfolk Southern Company 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.