Massachusetts Financial Services Co. MA Boosts Stock Position in Norfolk Southern Corporation $NSC

Massachusetts Financial Services Co. MA increased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 630,862 shares of the railroad operator’s stock after buying an additional 30,065 shares during the period. Massachusetts Financial Services Co. MA owned about 0.28% of Norfolk Southern worth $161,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. True Wealth Design LLC grew its position in shares of Norfolk Southern by 423.8% in the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after purchasing an additional 89 shares during the period. WPG Advisers LLC acquired a new position in shares of Norfolk Southern during the 1st quarter worth about $27,000. NewSquare Capital LLC lifted its stake in Norfolk Southern by 58.5% in the 2nd quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Pinnacle Bancorp Inc. boosted its holdings in Norfolk Southern by 30.5% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after buying an additional 43 shares during the last quarter. Finally, Chung Wu Investment Group LLC acquired a new stake in Norfolk Southern in the 2nd quarter worth about $51,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy purchased 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 purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard H. Anderson acquired 2,600 shares of the business’s stock in a transaction that occurred on 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 directly owned 7,000 shares in the company, valued at approximately $1,973,020. The trade was a 59.09% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NSC shares. Susquehanna increased their target price on Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. JPMorgan Chase & Co. boosted their price target on Norfolk Southern from $288.00 to $303.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Evercore ISI increased their price objective on Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. Robert W. Baird raised their price objective on Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada lowered their target price on shares of Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating on the stock in a research note on Friday, October 24th. 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $301.10.

Norfolk Southern Stock Up 0.2%

Shares of NYSE:NSC opened at $284.04 on Monday. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $302.24. The stock has a market cap of $63.73 billion, a P/E ratio of 21.67, a PEG ratio of 2.52 and a beta of 1.33. The business has a fifty day moving average of $286.84 and a two-hundred day moving average of $269.81. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

Norfolk Southern (NYSE:NSC) last announced 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). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the prior year, the company posted $3.25 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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