6,734 Norfolk Southern Corporation $NSC Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,152 shares of the railroad operator's stock after purchasing an additional 6,734 shares during the quarter. Commonwealth Equity Services LLC owned 0.05% of Norfolk Southern worth $36,509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Norfolk Southern during the 2nd quarter worth approximately $5,033,549,000. Bank of America Corp DE acquired a new position in Norfolk Southern during the second quarter valued at approximately $978,977,000. Dimensional Fund Advisors LP lifted its position in Norfolk Southern by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator's stock valued at $648,429,000 after buying an additional 46,127 shares in the last quarter. Amundi grew its stake in Norfolk Southern by 24.2% during the first quarter. Amundi now owns 2,226,885 shares of the railroad operator's stock worth $639,116,000 after buying an additional 434,074 shares during the period. Finally, HBK Investments L P grew its stake in Norfolk Southern by 0.8% during the second quarter. HBK Investments L P now owns 1,750,000 shares of the railroad operator's stock worth $550,532,000 after buying an additional 13,644 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on NSC. Weiss Ratings raised shares of Norfolk Southern from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. TD Cowen lifted their target price on shares of Norfolk Southern from $376.00 to $379.00 and gave the company a "buy" rating in a report on Friday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of Norfolk Southern from $318.00 to $323.00 and gave the stock a "neutral" rating in a research report on Friday, October 23rd. Wells Fargo & Company upped their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Finally, Benchmark reiterated a "hold" rating on shares of Norfolk Southern in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $348.81.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $320.06 on Monday. The stock's 50 day moving average price is $324.86 and its 200 day moving average price is $316.10. The firm 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. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.90. Norfolk Southern Corporation has a one year low of $277.80 and a one year high of $358.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share 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 firm 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 earned $3.30 EPS. Norfolk Southern's quarterly revenue was up 13.6% compared to the same quarter last year. As a group, sell-side analysts expect that Norfolk Southern Corporation will post 12.83 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Norfolk Southern Company Profile

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.

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