Jamison Private Wealth Management Inc. Buys 299 Shares of Norfolk Southern Co. (NYSE:NSC)

Jamison Private Wealth Management Inc. raised its position in shares of Norfolk Southern Co. (NYSE:NSC) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 18,121 shares of the railroad operator’s stock after acquiring an additional 299 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Norfolk Southern were worth $4,503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NSC. Hall Capital Management Co. Inc. raised its position in Norfolk Southern by 2.8% during the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after purchasing an additional 42 shares during the period. Blue Chip Partners LLC increased its stake in Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock worth $1,656,000 after buying an additional 42 shares during the period. Stephens Consulting LLC lifted its holdings in Norfolk Southern by 12.4% during the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after buying an additional 42 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its position in shares of Norfolk Southern by 4.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after acquiring an additional 42 shares during the period. Finally, Indiana Trust & Investment Management CO boosted its holdings in shares of Norfolk Southern by 3.0% in the first quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock valued at $376,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Citigroup initiated coverage on shares of Norfolk Southern in a research report on Wednesday, October 9th. They set a “buy” rating and a $294.00 target price on the stock. Susquehanna upped their price target on shares of Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Morgan Stanley reissued an “underweight” rating and set a $175.00 price objective on shares of Norfolk Southern in a report on Monday, July 8th. Finally, Evercore ISI upped their target price on Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.17.

Norfolk Southern Stock Up 0.2 %

Norfolk Southern stock opened at $254.33 on Wednesday. The business’s 50-day simple moving average is $247.13 and its two-hundred day simple moving average is $236.65. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The company has a market cap of $57.46 billion, a PE ratio of 40.95, a PEG ratio of 2.33 and a beta of 1.31. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the firm earned $2.95 earnings per share. Norfolk Southern’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts anticipate that Norfolk Southern Co. will post 11.79 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.12%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the transaction, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

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.