GAM Holding AG raised its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,127 shares of the railroad operator’s stock after purchasing an additional 1,056 shares during the quarter. GAM Holding AG’s holdings in Norfolk Southern were worth $1,648,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Raymond James Trust N.A. lifted its holdings in Norfolk Southern by 4.4% in the 3rd quarter. Raymond James Trust N.A. now owns 22,304 shares of the railroad operator’s stock worth $4,026,000 after purchasing an additional 931 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Norfolk Southern by 540.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,855 shares of the railroad operator’s stock worth $6,834,000 after acquiring an additional 31,946 shares in the last quarter. Eaton Vance Management raised its holdings in shares of Norfolk Southern by 1.5% during the 3rd quarter. Eaton Vance Management now owns 380,199 shares of the railroad operator’s stock worth $68,626,000 after acquiring an additional 5,712 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of Norfolk Southern by 34.7% during the 3rd quarter. GSA Capital Partners LLP now owns 2,735 shares of the railroad operator’s stock worth $494,000 after acquiring an additional 705 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Norfolk Southern by 6.5% during the 3rd quarter. Hsbc Holdings PLC now owns 391,298 shares of the railroad operator’s stock worth $70,627,000 after acquiring an additional 23,719 shares in the last quarter. 72.97% of the stock is currently owned by hedge funds and other institutional investors.

NYSE NSC opened at $165.89 on Thursday. The company has a market cap of $45.18 billion, a PE ratio of 25.10, a P/E/G ratio of 1.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.75 and a current ratio of 0.86. Norfolk Southern Corp. has a fifty-two week low of $127.79 and a fifty-two week high of $186.91.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.08. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.90 billion. Norfolk Southern had a return on equity of 15.12% and a net margin of 52.82%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.75 EPS. On average, equities analysts expect that Norfolk Southern Corp. will post 9.26 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 2nd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 48.41%.

In other Norfolk Southern news, COO Michael Joseph Wheeler sold 801 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $172.55, for a total value of $138,212.55. Following the completion of the sale, the chief operating officer now directly owns 9,406 shares in the company, valued at approximately $1,623,005.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.36% of the company’s stock.

NSC has been the topic of several recent research reports. TD Securities raised Norfolk Southern from a “hold” rating to a “buy” rating in a report on Thursday, October 25th. They noted that the move was a valuation call. Bank of America upped their price objective on Norfolk Southern from $183.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, October 1st. Morgan Stanley set a $113.00 price objective on Norfolk Southern and gave the stock a “sell” rating in a report on Monday, October 22nd. Zacks Investment Research cut Norfolk Southern from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Finally, Barclays reaffirmed a “hold” rating and set a $190.00 price objective on shares of Norfolk Southern in a report on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $176.11.

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Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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