M Holdings Securities Inc. Acquires New Stake in Norfolk Southern Corporation $NSC

Key Points

• M Holdings Securities initiated a position in Norfolk Southern, buying 7,656 shares worth about $2.37 million in the third quarter. Institutional investors collectively own 75.1% of the stock.
• Norfolk Southern beat quarterly estimates, reporting EPS of $3.62 and revenue of $3.53 billion; revenue rose 13.6% year over year. The company declared a $1.35 quarterly dividend, equivalent to a 1.7% yield.
• Analysts’ consensus rating is Hold, with an average price target of $348.81. Shares opened at $320.06 in the article’s latest trading update.

M Holdings Securities Inc. bought a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,656 shares of the railroad operator's stock, valued at approximately $2,366,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NSC. Brighton Jones LLC lifted its holdings in shares of Norfolk Southern by 29.8% during the 3rd quarter. Brighton Jones LLC now owns 2,924 shares of the railroad operator's stock worth $903,000 after acquiring an additional 672 shares during the last quarter. Ethic Inc. grew its position in Norfolk Southern by 11.9% during the 3rd quarter. Ethic Inc. now owns 19,609 shares of the railroad operator's stock worth $6,059,000 after acquiring an additional 2,080 shares during the last quarter. StoneX Group Inc. increased its stake in shares of Norfolk Southern by 186.9% in the third quarter. StoneX Group Inc. now owns 2,235 shares of the railroad operator's stock worth $723,000 after buying an additional 1,456 shares during the period. Pictet Asset Management Holding SA raised its holdings in Norfolk Southern by 1.7% during the 3rd quarter. Pictet Asset Management Holding SA now owns 109,070 shares of the railroad operator's stock valued at $33,703,000 after buying an additional 1,836 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in Norfolk Southern by 2.6% during the 3rd quarter. Parallel Advisors LLC now owns 4,578 shares of the railroad operator's stock valued at $1,415,000 after buying an additional 114 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.0%

Shares of NYSE NSC opened at $320.06 on Monday. Norfolk Southern Corporation has a 1 year low of $277.80 and a 1 year high of $358.60. The stock has a market cap of $71.89 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 4.77 and a beta of 1.20. The firm has a 50-day moving average of $324.86 and a 200 day moving average of $316.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.81.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The railroad operator reported $3.62 EPS for the quarter, topping the consensus estimate of $3.46 by $0.16. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.48 billion. Norfolk Southern had a net margin of 20.70% and a return on equity of 18.22%. Norfolk Southern's quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.30 earnings per share. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, November 6th. Norfolk Southern's dividend payout ratio (DPR) is presently 45.26%.

Analysts Set New Price Targets

Several brokerages have weighed in on NSC. TD Cowen increased their price target on shares of Norfolk Southern from $376.00 to $379.00 and gave the company a "buy" rating in a research report on Friday, October 23rd. Susquehanna decreased their price objective on shares of Norfolk Southern from $386.00 to $350.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Royal Bank Of Canada upped their price objective on shares of Norfolk Southern from $330.00 to $350.00 and gave the company a "sector perform" rating in a research note on Friday, October 23rd. Weiss Ratings upgraded shares of Norfolk Southern from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 9th. Finally, Wells Fargo & Company raised their target price on Norfolk Southern from $365.00 to $385.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $348.81.

Norfolk Southern 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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