Advisors Asset Management Inc. Has $1.90 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Advisors Asset Management Inc. grew its stake in Norfolk Southern Co. (NYSE:NSC) by 197.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,470 shares of the railroad operator’s stock after purchasing an additional 4,955 shares during the quarter. Advisors Asset Management Inc.’s holdings in Norfolk Southern were worth $1,904,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Cedar Wealth Management LLC acquired a new position in Norfolk Southern in the first quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC bought a new position in Norfolk Southern during the fourth quarter worth about $32,000. Financial Connections Group Inc. bought a new position in Norfolk Southern during the fourth quarter worth about $34,000. Rise Advisors LLC bought a new position in Norfolk Southern during the first quarter worth about $34,000. Finally, Transcendent Capital Group LLC bought a new position in Norfolk Southern during the fourth quarter worth about $38,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Up 10.9 %

NYSE:NSC opened at $247.22 on Friday. The firm has a market capitalization of $55.85 billion, a price-to-earnings ratio of 39.81, a price-to-earnings-growth ratio of 2.44 and a beta of 1.32. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The stock’s 50 day moving average price is $222.63 and its two-hundred day moving average price is $237.55. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.20. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a return on equity of 19.77% and a net margin of 14.85%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.95 EPS. Equities research analysts expect that Norfolk Southern Co. will post 11.6 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NSC shares. Loop Capital raised their target price on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Morgan Stanley reiterated an “underweight” rating and set a $175.00 price objective on shares of Norfolk Southern in a report on Monday, July 8th. TD Cowen lifted their price objective on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a report on Friday. Sanford C. Bernstein cut their price objective on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Finally, Jefferies Financial Group initiated coverage on Norfolk Southern in a report on Monday, April 8th. They set a “buy” rating and a $300.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $264.65.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 2,000 shares of the stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $219.25 per share, with a total value of $438,500.00. Following the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at $1,534,750. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $219.25 per share, with a total value of $438,500.00. Following the acquisition, the director now owns 7,000 shares of the company’s stock, valued at $1,534,750. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Claude Mongeau bought 5,650 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $4,420,000. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern 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.