Wealthfront Advisers LLC Purchases 5,854 Shares of Norfolk Southern Corporation $NSC

Wealthfront Advisers LLC boosted its position in Norfolk Southern Corporation (NYSE:NSC) by 57.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,998 shares of the railroad operator’s stock after buying an additional 5,854 shares during the period. Wealthfront Advisers LLC’s holdings in Norfolk Southern were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of Norfolk Southern during the second quarter worth $2,394,000. Brighton Jones LLC raised its stake in Norfolk Southern by 9.2% in the 2nd quarter. Brighton Jones LLC now owns 1,873 shares of the railroad operator’s stock worth $480,000 after purchasing an additional 158 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs boosted its holdings in Norfolk Southern by 1.7% in the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 8,922 shares of the railroad operator’s stock valued at $2,284,000 after purchasing an additional 153 shares during the period. Curio Wealth LLC grew its position in shares of Norfolk Southern by 15,550.0% during the 2nd quarter. Curio Wealth LLC now owns 313 shares of the railroad operator’s stock worth $80,000 after purchasing an additional 311 shares in the last quarter. Finally, Moment Partners LLC increased its holdings in shares of Norfolk Southern by 3.8% during the second quarter. Moment Partners LLC now owns 1,593 shares of the railroad operator’s stock worth $408,000 after purchasing an additional 59 shares during the period. Institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In other news, Director Richard H. Anderson bought 2,600 shares of the stock in a transaction on Monday, October 27th. The stock was acquired at an average price of $281.86 per share, with a total value of $732,836.00. Following the acquisition, the director directly owned 7,000 shares in the company, valued at approximately $1,973,020. This trade represents a 59.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NSC has been the subject of several recent research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price target on shares of Norfolk Southern in a research note on Friday, July 25th. TD Cowen reduced their target price on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Sanford C. Bernstein boosted their price target on Norfolk Southern from $295.00 to $305.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Robert W. Baird increased their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Loop Capital boosted their target price on shares of Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research report on Tuesday, September 16th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $299.70.

Norfolk Southern Stock Down 0.3%

NSC stock opened at $280.83 on Wednesday. The stock has a market capitalization of $63.02 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 2.55 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. The firm has a 50-day moving average price of $285.72 and a 200-day moving average price of $263.74. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data 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). The company had revenue of $3.10 billion for 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%.Norfolk Southern’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.25 earnings per share. As a group, equities research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

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.