Howe & Rusling Inc. Has $5.45 Million Position in Norfolk Southern Co. (NYSE:NSC)

Howe & Rusling Inc. grew its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,914 shares of the railroad operator’s stock after acquiring an additional 351 shares during the period. Howe & Rusling Inc.’s holdings in Norfolk Southern were worth $5,446,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth about $25,000. 1620 Investment Advisors Inc. acquired a new stake in Norfolk Southern in the second quarter valued at approximately $27,000. Coastline Trust Co bought a new stake in Norfolk Southern in the third quarter worth approximately $32,000. Capital Performance Advisors LLP acquired a new position in shares of Norfolk Southern during the 3rd quarter worth $33,000. Finally, Financial Connections Group Inc. bought a new position in shares of Norfolk Southern during the 2nd quarter valued at $31,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $259.71 on Wednesday. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The business has a fifty day simple moving average of $253.14 and a 200 day simple moving average of $239.27. The firm has a market capitalization of $58.76 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.48 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $2.65 EPS. Sell-side analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio is 50.70%.

Analyst Upgrades and Downgrades

NSC has been the topic of several analyst reports. Bank of America increased their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Loop Capital increased their price objective on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stephens restated an “equal weight” rating and issued a $263.00 target price on shares of Norfolk Southern in a report on Wednesday, October 23rd. TD Cowen increased their price target on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada boosted their price objective on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 59.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This represents a 11.11 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% 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 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.