Choreo LLC Buys 845 Shares of Norfolk Southern Corporation $NSC

Choreo LLC raised its stake in Norfolk Southern Corporation (NYSE:NSC) by 3.8% during the second quarter, Holdings Channel reports. The fund owned 23,061 shares of the railroad operator’s stock after buying an additional 845 shares during the period. Choreo LLC’s holdings in Norfolk Southern were worth $5,903,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Princeton Global Asset Management LLC grew its holdings in Norfolk Southern by 2.3% during the second quarter. Princeton Global Asset Management LLC now owns 1,640 shares of the railroad operator’s stock valued at $420,000 after purchasing an additional 37 shares during the period. Horan Securities Inc. raised its stake in shares of Norfolk Southern by 2.1% in the second quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock valued at $452,000 after buying an additional 37 shares during the period. Gables Capital Management Inc. lifted its position in shares of Norfolk Southern by 2.7% during the 2nd quarter. Gables Capital Management Inc. now owns 1,466 shares of the railroad operator’s stock valued at $375,000 after buying an additional 38 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Norfolk Southern by 1.7% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,429 shares of the railroad operator’s stock worth $622,000 after acquiring an additional 40 shares during the period. Finally, Gilbert & Cook Inc. increased its holdings in Norfolk Southern by 1.7% in the 2nd quarter. Gilbert & Cook Inc. now owns 2,430 shares of the railroad operator’s stock worth $622,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE NSC opened at $290.29 on Thursday. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78. The stock has a market capitalization of $65.14 billion, a PE ratio of 22.14, a P/E/G ratio of 2.52 and a beta of 1.33. The company’s 50 day simple moving average is $288.27 and its two-hundred day simple moving average is $272.95.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the firm earned $3.25 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Friday, November 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, November 7th. Norfolk Southern’s dividend payout ratio is currently 41.19%.

Analysts Set New Price Targets

Several equities research analysts have commented on NSC shares. Barclays upped their price objective on shares of Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Weiss Ratings cut shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Evercore ISI raised their price objective on shares of Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Royal Bank Of Canada lowered their target price on shares of Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating on the stock in a report on Friday, October 24th. Finally, Susquehanna raised their price target on Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Seven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $301.10.

Insider Buying and Selling at Norfolk Southern

In related news, EVP Anil Bhatt sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total value of $253,440.00. Following the sale, the executive vice president directly owned 1,413 shares of the company’s stock, valued at $397,900.80. This trade represents a 38.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard H. Anderson bought 2,600 shares of the company’s stock in a transaction on Monday, October 27th. The shares were bought at an average price of $281.86 per share, with a total value of $732,836.00. Following the completion of the transaction, the director owned 7,000 shares of the company’s stock, valued at $1,973,020. The trade was a 59.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.06% of the company’s stock.

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.