Sterling Capital Management LLC Has $1.71 Million Holdings in Norfolk Southern Corp. (NSC)

Sterling Capital Management LLC grew its stake in Norfolk Southern Corp. (NYSE:NSC) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,474 shares of the railroad operator’s stock after buying an additional 360 shares during the period. Sterling Capital Management LLC’s holdings in Norfolk Southern were worth $1,710,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Verition Fund Management LLC lifted its position in shares of Norfolk Southern by 362.9% in the second quarter. Verition Fund Management LLC now owns 21,405 shares of the railroad operator’s stock worth $3,229,000 after buying an additional 16,781 shares during the last quarter. Independent Advisor Alliance lifted its position in shares of Norfolk Southern by 8.6% during the 2nd quarter. Independent Advisor Alliance now owns 5,404 shares of the railroad operator’s stock worth $768,000 after purchasing an additional 427 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Norfolk Southern during the 2nd quarter worth about $7,436,000. Provident Investment Management Inc. lifted its position in shares of Norfolk Southern by 100.0% during the 2nd quarter. Provident Investment Management Inc. now owns 7,434 shares of the railroad operator’s stock worth $1,122,000 after purchasing an additional 3,717 shares during the last quarter. Finally, First Command Financial Services Inc. lifted its position in shares of Norfolk Southern by 74.7% during the 2nd quarter. First Command Financial Services Inc. now owns 7,038 shares of the railroad operator’s stock worth $1,062,000 after purchasing an additional 3,010 shares during the last quarter. 74.38% of the stock is owned by institutional investors.

Several research firms recently weighed in on NSC. ValuEngine cut Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus boosted their price objective on Norfolk Southern from $159.00 to $176.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Loop Capital raised Norfolk Southern from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $190.00 in a research report on Wednesday, October 24th. Credit Suisse Group cut their price objective on Norfolk Southern from $188.00 to $187.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Finally, Scotiabank set a $175.00 price target on Norfolk Southern and gave the company a “buy” rating in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $174.40.

In related news, Chairman James A. Squires sold 34,077 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Cynthia C. Earhart sold 2,370 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $175.09, for a total value of $414,963.30. Following the sale, the vice president now owns 2,370 shares in the company, valued at $414,963.30. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.

NSC stock opened at $173.05 on Thursday. Norfolk Southern Corp. has a 1-year low of $125.59 and a 1-year high of $186.91. The company has a market capitalization of $45.50 billion, a PE ratio of 26.18, a P/E/G ratio of 1.51 and a beta of 1.32. 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 (NYSE:NSC) last released its quarterly earnings data on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.08. Norfolk Southern had a return on equity of 15.12% and a net margin of 52.82%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the company posted $1.75 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Analysts forecast that Norfolk Southern Corp. will post 9.24 earnings per share for the current year.

The firm also recently declared 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. The ex-dividend date is Thursday, November 1st. This represents a $3.20 dividend on an annualized basis and a yield of 1.85%. Norfolk Southern’s dividend payout ratio (DPR) is presently 48.41%.

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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.

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

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