Norfolk Southern Corporation $NSC Position Lifted by D.A. Davidson & CO.

Key Points

• D.A. Davidson & CO. increased its Norfolk Southern stake by 26.8% in the third quarter, bringing its holdings to 27,832 shares valued at approximately $8.6 million. Institutional investors collectively own 75.1% of the company.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and average price target of $348.81; individual targets range from $349 to $379.
• Norfolk Southern exceeded quarterly expectations, reporting $3.62 in EPS and $3.53 billion in revenue, while revenue rose 13.6% year over year. The company also declared a quarterly dividend of $1.35 per share, representing a 1.6% yield.

D.A. Davidson & CO. grew its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 26.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,832 shares of the railroad operator's stock after acquiring an additional 5,890 shares during the quarter. D.A. Davidson & CO.'s holdings in Norfolk Southern were worth $8,600,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. TD Cowen increased their price target on Norfolk Southern from $376.00 to $379.00 and gave the stock a "buy" rating in a report on Friday, October 23rd. Citigroup boosted their price objective on Norfolk Southern from $347.00 to $349.00 and gave the company a "neutral" rating in a report on Friday, October 23rd. Evercore upped their price objective on Norfolk Southern from $358.00 to $360.00 in a research report on Wednesday, September 30th. Benchmark reaffirmed a "hold" rating on shares of Norfolk Southern in a research report on Friday, July 24th. Finally, Susquehanna reduced their target price on Norfolk Southern from $386.00 to $350.00 and set a "neutral" rating on the stock in a research note on Friday, October 2nd. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $348.81.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $342.55 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.81. The stock has a market cap of $76.94 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 5.12 and a beta of 1.29. The firm has a 50-day moving average of $326.36 and a two-hundred day moving average of $314.88. Norfolk Southern Corporation has a 1 year low of $277.80 and a 1 year high of $358.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Thursday, October 22nd. The railroad operator reported $3.62 EPS for the quarter, topping analysts' consensus estimates of $3.46 by $0.16. Norfolk Southern had a net margin of 20.70% and a return on equity of 18.22%. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period last year, the company posted $3.30 earnings per share. The company's quarterly revenue was up 13.6% compared to the same quarter last year. On average, research analysts forecast that Norfolk Southern Corporation will post 12.80 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern's dividend payout ratio is 45.26%.

Norfolk Southern Profile

Norfolk Southern Corporation NYSE: NSC is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.

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