Benjamin F. Edwards & Company Inc. Raises Holdings in Norfolk Southern Corp. (NSC)

Benjamin F. Edwards & Company Inc. grew its stake in Norfolk Southern Corp. (NYSE:NSC) by 13.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,945 shares of the railroad operator’s stock after purchasing an additional 696 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Norfolk Southern were worth $1,073,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kaizen Advisory LLC grew its position in shares of Norfolk Southern by 138.0% in the 2nd quarter. Kaizen Advisory LLC now owns 664 shares of the railroad operator’s stock worth $100,000 after buying an additional 385 shares during the period. Marshall & Sullivan Inc. WA purchased a new stake in shares of Norfolk Southern in the 2nd quarter worth about $102,000. Sun Life Financial INC grew its position in shares of Norfolk Southern by 336.4% in the 2nd quarter. Sun Life Financial INC now owns 768 shares of the railroad operator’s stock worth $116,000 after buying an additional 592 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Norfolk Southern in the 2nd quarter worth about $117,000. Finally, Bridgeworth LLC purchased a new stake in shares of Norfolk Southern in the 2nd quarter worth about $169,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Shares of NSC stock opened at $166.31 on Wednesday. Norfolk Southern Corp. has a one year low of $125.59 and a one year high of $186.91. The stock has a market cap of $44.10 billion, a P/E ratio of 25.16, a PEG ratio of 1.46 and a beta of 1.39. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 0.69.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, October 24th. The railroad operator reported $2.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.08. Norfolk Southern had a net margin of 52.82% and a return on equity of 15.12%. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the firm posted $1.75 EPS. Norfolk Southern’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts forecast that Norfolk Southern Corp. will post 9.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 2nd will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is 48.41%.

A number of analysts have recently weighed in on the stock. Bank of America upped their target price on shares of Norfolk Southern from $183.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, October 1st. Morgan Stanley upped their target price on shares of Norfolk Southern from $112.00 to $116.00 and gave the stock a “sell” rating in a research report on Tuesday, October 9th. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research report on Monday, October 8th. Barclays reaffirmed a “hold” rating and issued a $190.00 target price on shares of Norfolk Southern in a research report on Wednesday, September 26th. Finally, Edward Jones downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $174.40.

In other news, VP Cynthia C. Earhart sold 2,370 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total transaction of $414,963.30. Following the sale, the vice president now owns 2,370 shares of the company’s stock, valued at approximately $414,963.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman James A. Squires sold 34,077 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $171.73, for a total transaction of $5,852,043.21. Following the sale, the chairman now directly owns 63,958 shares in the company, valued at approximately $10,983,507.34. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

About Norfolk Southern

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.

Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers

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

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