Rockefeller Capital Management L.P. Increases Position in Norfolk Southern Corporation $NSC

Rockefeller Capital Management L.P. lifted its holdings in Norfolk Southern Corporation (NYSE:NSC) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,343 shares of the railroad operator’s stock after buying an additional 3,166 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Norfolk Southern were worth $13,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NSC. Price T Rowe Associates Inc. MD increased its stake in Norfolk Southern by 31.5% in the first 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 purchasing an additional 2,710,930 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of Norfolk Southern in the second quarter worth about $321,393,000. Adage Capital Partners GP L.L.C. increased its stake in Norfolk Southern by 341.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator’s stock worth $187,100,000 after buying an additional 611,198 shares during the period. Nuveen LLC bought a new stake in Norfolk Southern during the 1st quarter valued at about $122,256,000. Finally, Phoenix Financial Ltd. bought a new stake in Norfolk Southern during the 1st quarter valued at about $110,209,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 0.4%

Shares of NYSE NSC opened at $281.85 on Thursday. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $302.24. The stock’s fifty day simple moving average is $287.31 and its two-hundred day simple moving average is $270.71. The stock has a market capitalization of $63.24 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. 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 (NYSE:NSC) last issued its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the business earned $3.25 EPS. Norfolk Southern’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be given a $1.35 dividend. 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 payout ratio is presently 41.19%.

Insider Activity at Norfolk Southern

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on NSC shares. BMO Capital Markets raised their target price on shares of Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. TD Cowen dropped their price objective on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. UBS Group lowered their target price on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a report on Friday, October 24th. Finally, Citigroup cut their price target on Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating on the stock 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $301.10.

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.