M Holdings Securities Inc. Buys 7,656 Shares of Norfolk Southern Corporation $NSC

M Holdings Securities Inc. bought a new position in Norfolk Southern Corporation (NYSE:NSC) during the third quarter, HoldingsChannel.com reports. The fund bought 7,656 shares of the railroad operator’s stock, valued at approximately $2,366,000.

A number of other institutional investors have also recently modified their holdings of NSC. SCS Capital Management LLC bought a new stake in Norfolk Southern during the 2nd quarter valued at about $13,837,000. B. Metzler seel. Sohn & Co. AG purchased a new position in Norfolk Southern in the second quarter worth about $3,669,000. NewEdge Advisors LLC lifted its stake in shares of Norfolk Southern by 17.2% in the second quarter. NewEdge Advisors LLC now owns 35,598 shares of the railroad operator’s stock worth $11,199,000 after buying an additional 5,233 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Norfolk Southern in the second quarter worth approximately $1,376,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in shares of Norfolk Southern by 29.2% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 54,620 shares of the railroad operator’s stock worth $17,183,000 after buying an additional 12,350 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NSC. Barclays increased their price target on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Citigroup boosted their price objective on shares of Norfolk Southern from $347.00 to $349.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. UBS Group restated a “neutral” rating on shares of Norfolk Southern in a report on Monday, October 26th. Weiss Ratings raised Norfolk Southern from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Finally, Susquehanna cut their target price on Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Hold” and an average target price of $348.81.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $320.06 on Monday. The firm’s 50 day moving average price is $324.86 and its 200-day moving average price is $316.10. The stock has a market capitalization of $71.89 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 4.77 and a beta of 1.20. Norfolk Southern Corporation has a twelve month low of $277.80 and a twelve month high of $358.60. The company has a quick ratio of 0.81, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, October 22nd. The railroad operator reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.16. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the business posted $3.30 earnings per share. The business’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts expect that Norfolk Southern Corporation will post 12.83 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, November 6th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s payout ratio is 45.26%.

About Norfolk Southern

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America.

The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.

Norfolk Southern was formed in 1982 through the merger of the Norfolk and Western Railway and the Southern Railway.