Bernardo Wealth Planning LLC Purchases New Position in Norfolk Southern Co. (NYSE:NSC)

Bernardo Wealth Planning LLC bought a new stake in Norfolk Southern Co. (NYSE:NSC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 904 shares of the railroad operator’s stock, valued at approximately $224,000.

Other hedge funds also recently bought and sold shares of the company. Park Avenue Securities LLC grew its position in shares of Norfolk Southern by 4.5% in the 1st quarter. Park Avenue Securities LLC now owns 4,772 shares of the railroad operator’s stock valued at $1,216,000 after purchasing an additional 207 shares during the period. &PARTNERS bought a new stake in shares of Norfolk Southern during the first quarter worth $445,000. Ballentine Partners LLC increased its position in shares of Norfolk Southern by 10.6% during the first quarter. Ballentine Partners LLC now owns 5,346 shares of the railroad operator’s stock worth $1,363,000 after acquiring an additional 513 shares in the last quarter. Steph & Co. raised its holdings in shares of Norfolk Southern by 13.3% during the first quarter. Steph & Co. now owns 878 shares of the railroad operator’s stock worth $224,000 after acquiring an additional 103 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in Norfolk Southern in the 1st quarter worth $54,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NSC has been the topic of several recent research reports. Benchmark lifted their price target on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Morgan Stanley reissued an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research report on Monday, July 8th. Citigroup started coverage on Norfolk Southern in a research report on Wednesday, October 9th. They set a “buy” rating and a $294.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Finally, Jefferies Financial Group increased their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus target price of $266.17.

Norfolk Southern Stock Up 1.7 %

NSC opened at $252.37 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The stock’s fifty day simple moving average is $247.82 and its 200 day simple moving average is $236.77. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The stock has a market cap of $57.01 billion, a PE ratio of 40.64, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the company posted $2.95 EPS. Norfolk Southern’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Norfolk Southern Co. will post 11.79 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.14%. Norfolk Southern’s payout ratio is 86.96%.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy purchased 700 shares of Norfolk Southern stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy acquired 700 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $245.15 per share, with a total value of $171,605.00. Following the acquisition, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Norfolk Southern Company 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.