Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 7,257 Shares of Norfolk Southern Corporation $NSC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Norfolk Southern Corporation (NYSE:NSC) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 344,363 shares of the railroad operator’s stock after acquiring an additional 7,257 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.15% of Norfolk Southern worth $88,147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in NSC. Princeton Global Asset Management LLC increased its holdings in Norfolk Southern by 2.3% during the 2nd quarter. Princeton Global Asset Management LLC now owns 1,640 shares of the railroad operator’s stock worth $420,000 after purchasing an additional 37 shares in the last quarter. Horan Securities Inc. increased its position in shares of Norfolk Southern by 2.1% during the 2nd quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock worth $452,000 after purchasing an additional 37 shares during the last quarter. Gables Capital Management Inc. increased its holdings in Norfolk Southern by 2.7% during the second quarter. Gables Capital Management Inc. now owns 1,466 shares of the railroad operator’s stock worth $375,000 after buying an additional 38 shares during the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of Norfolk Southern by 1.7% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,429 shares of the railroad operator’s stock valued at $622,000 after purchasing an additional 40 shares during the period. Finally, Gilbert & Cook Inc. raised its stake in Norfolk Southern by 1.7% in the second quarter. Gilbert & Cook Inc. now owns 2,430 shares of the railroad operator’s stock valued at $622,000 after buying an additional 41 shares during the period. Institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In other news, Director Sameh Fahmy bought 1,650 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average cost of $282.97 per share, for a total transaction of $466,900.50. Following the acquisition, the director directly owned 12,000 shares in the company, valued at approximately $3,395,640. This trade represents a 15.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Anderson acquired 2,600 shares of the company’s stock in a transaction 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 completion of the purchase, the director directly owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. This represents a 59.09% increase in their position. The SEC filing for this purchase provides additional information. 0.06% of the stock is owned by corporate insiders.

Norfolk Southern Stock Performance

NSC stock opened at $284.04 on Friday. The firm has a market cap of $63.73 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. The stock has a 50-day moving average price of $286.84 and a 200-day moving average price of $269.17. 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 1-year low of $201.63 and a 1-year 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 analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the previous year, the company posted $3.25 earnings per share. Norfolk Southern’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Analyst Ratings Changes

NSC has been the topic of several research analyst reports. UBS Group dropped their price objective on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a report on Monday, October 27th. Evercore ISI upped their price target on shares of Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Susquehanna raised their price objective on Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Finally, BMO Capital Markets raised their target price on shares of Norfolk Southern from $285.00 to $305.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and a consensus target price of $299.70.

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.