Kemnay Advisory Services Inc. decreased its stake in Norfolk Southern Corp. (NYSE:NSC) by 14.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,221 shares of the railroad operator’s stock after selling 1,205 shares during the quarter. Kemnay Advisory Services Inc.’s holdings in Norfolk Southern were worth $1,303,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NSC. Plancorp LLC acquired a new position in shares of Norfolk Southern during the 3rd quarter worth $217,000. Riverhead Capital Management LLC increased its stake in shares of Norfolk Southern by 178.1% during the 3rd quarter. Riverhead Capital Management LLC now owns 8,978 shares of the railroad operator’s stock worth $1,621,000 after purchasing an additional 5,750 shares during the last quarter. Ashler Capital LLC acquired a new position in shares of Norfolk Southern during the 3rd quarter worth $39,684,000. Honkamp Krueger Financial Services Inc. acquired a new position in shares of Norfolk Southern during the 3rd quarter worth $188,000. Finally, ARS Investment Partners LLC increased its stake in shares of Norfolk Southern by 2.6% during the 3rd quarter. ARS Investment Partners LLC now owns 16,804 shares of the railroad operator’s stock worth $3,033,000 after purchasing an additional 432 shares during the last quarter. Institutional investors own 72.97% of the company’s stock.

NYSE:NSC opened at $162.19 on Friday. Norfolk Southern Corp. has a 1 year low of $127.79 and a 1 year high of $186.91. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $45.18 billion, a P/E ratio of 24.54, a PEG ratio of 1.49 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.08. Norfolk Southern had a net margin of 52.82% and a return on equity of 15.12%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the business posted $1.75 EPS. Norfolk Southern’s revenue was up 10.4% compared to the same quarter last year. Research analysts forecast that Norfolk Southern Corp. will post 9.26 EPS for the current year.

The business also recently declared 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. The ex-dividend date is Thursday, November 1st. This represents a $3.20 annualized dividend and a yield of 1.97%. Norfolk Southern’s dividend payout ratio is 48.41%.

Several research analysts have recently commented on the stock. Loop Capital set a $188.00 price target on shares of Norfolk Southern and gave the stock a “buy” rating in a research note on Monday, November 26th. Zacks Investment Research upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $191.00 price target on the stock in a research note on Wednesday, November 21st. ValuEngine lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Morgan Stanley increased their price target on shares of Norfolk Southern from $113.00 to $115.00 and gave the stock an “underweight” rating in a research note on Monday, October 29th. Finally, Credit Suisse Group dropped their price target on shares of Norfolk Southern from $188.00 to $187.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. One equities research 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’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $176.11.

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

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Norfolk Southern 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.

Read More: Stock Split

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

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