180,837 Shares in Norfolk Southern Co. (NYSE:NSC) Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. purchased a new position in Norfolk Southern Co. (NYSE:NSC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 180,837 shares of the railroad operator’s stock, valued at approximately $46,090,000. 1832 Asset Management L.P. owned approximately 0.08% of Norfolk Southern at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NSC. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 1st quarter worth approximately $27,000. Rise Advisors LLC acquired a new position in shares of Norfolk Southern during the 1st quarter worth approximately $34,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Norfolk Southern during the 4th quarter valued at $32,000. Financial Connections Group Inc. bought a new position in shares of Norfolk Southern in the fourth quarter valued at about $34,000. Finally, Rational Advisors LLC acquired a new position in Norfolk Southern in the 1st quarter valued at about $40,000. 75.10% of the stock is owned by institutional investors.

Insider Activity

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Claude Mongeau purchased 5,650 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays lowered their target price on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, May 13th. Wells Fargo & Company boosted their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday. Loop Capital raised their target price on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada cut their target price on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.65.

Norfolk Southern Trading Up 10.9 %

Shares of Norfolk Southern stock traded up $24.32 on Friday, reaching $247.22. 2,993,456 shares of the company’s stock were exchanged, compared to its average volume of 1,060,314. The firm’s 50-day moving average is $222.63 and its two-hundred day moving average is $237.55. The company has a market capitalization of $55.85 billion, a P/E ratio of 39.81, a price-to-earnings-growth ratio of 2.20 and a beta of 1.32. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.20. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.77%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.95 earnings per share. Sell-side analysts predict that Norfolk Southern Co. will post 11.62 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

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.