Empowered Funds LLC Raises Stake in Norfolk Southern Co. (NYSE:NSC)

Empowered Funds LLC raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 4.9% during the third quarter, HoldingsChannel reports. The firm owned 16,845 shares of the railroad operator’s stock after buying an additional 786 shares during the period. Empowered Funds LLC’s holdings in Norfolk Southern were worth $4,186,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in NSC. Highline Wealth Partners LLC acquired a new position in Norfolk Southern in the 3rd quarter valued at about $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of Norfolk Southern in the second quarter valued at approximately $27,000. Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern during the second quarter worth approximately $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern during the second quarter worth $31,000. Finally, Capital Performance Advisors LLP purchased a new position in Norfolk Southern in the 3rd quarter valued at $33,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $8,970,819.10. The trade was a 59.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sameh Fahmy purchased 1,000 shares of Norfolk Southern stock in a transaction on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Stock Down 1.3 %

Shares of NYSE NSC opened at $261.26 on Monday. The firm’s 50-day moving average is $252.99 and its two-hundred day moving average is $238.90. The company has a market capitalization of $59.11 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30. Norfolk Southern Co. has a 12-month low of $205.70 and a 12-month high of $277.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65.

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

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s payout ratio is currently 50.70%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group upped their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus raised their price objective on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. Loop Capital boosted their target price on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna increased their target price on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group lifted their price target on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.68.

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.