B&L Asset Management LLC Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

B&L Asset Management LLC bought a new stake in shares of Norfolk Southern Co. (NYSE:NSC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,590 shares of the railroad operator’s stock, valued at approximately $395,000.

A number of other large investors also recently bought and sold shares of the business. Highline Wealth Partners LLC acquired a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $25,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern during the second quarter valued at $27,000. Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $31,000. HWG Holdings LP purchased a new stake in shares of Norfolk Southern during the second quarter worth about $31,000. Finally, Coastline Trust Co purchased a new position in Norfolk Southern in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.2 %

NYSE NSC opened at $275.85 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The firm has a market cap of $62.41 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 2.62 and a beta of 1.30. The firm has a 50 day simple moving average of $256.63 and a 200-day simple moving average of $241.50. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate of $3.11 by $0.14. The business 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 company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 earnings per share. Equities research analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. lifted their target price on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group increased their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Loop Capital upped their price objective on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada raised their target price 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $275.68.

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.