Camden National Bank Makes New $281,000 Investment in Norfolk Southern Co. (NYSE:NSC)

Camden National Bank acquired a new stake in shares of Norfolk Southern Co. (NYSE:NSC) during the third quarter, according to its most recent filing with the SEC. The fund acquired 1,130 shares of the railroad operator’s stock, valued at approximately $281,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Norfolk Southern by 20.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after buying an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Norfolk Southern by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after acquiring an additional 3,621 shares during the period. Pathway Financial Advisers LLC boosted its holdings in Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares during the period. Seven Eight Capital LP bought a new position in Norfolk Southern in the 2nd quarter valued at $1,676,000. Finally, Dakota Wealth Management increased its holdings in shares of Norfolk Southern by 2.1% in the third quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $268.95 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The business has a 50 day moving average price of $253.90 and a 200-day moving average price of $239.85. The firm has a market cap of $60.85 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 2.51 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.65 EPS. Equities research analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.01%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 59.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NSC shares. Stephens reissued an “equal weight” rating and set a $263.00 price objective on shares of Norfolk Southern in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Loop Capital raised their target price on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus boosted their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company raised their price objective on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $275.68.

Norfolk Southern 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.