Principle Wealth Partners LLC Has $1.01 Million Holdings in Norfolk Southern Corp. (NYSE:NSC)

Principle Wealth Partners LLC grew its position in Norfolk Southern Corp. (NYSE:NSC) by 393.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,645 shares of the railroad operator’s stock after purchasing an additional 4,500 shares during the period. Principle Wealth Partners LLC’s holdings in Norfolk Southern were worth $1,014,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new position in shares of Norfolk Southern during the 2nd quarter valued at about $26,000. Prestige Wealth Management Group LLC bought a new stake in Norfolk Southern in the second quarter worth $35,000. Vigilant Capital Management LLC bought a new stake in Norfolk Southern in the third quarter worth $36,000. AGF Investments LLC lifted its stake in Norfolk Southern by 173.5% in the second quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock worth $37,000 after purchasing an additional 118 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in Norfolk Southern by 7,100.0% in the third quarter. Larson Financial Group LLC now owns 216 shares of the railroad operator’s stock worth $39,000 after purchasing an additional 213 shares during the last quarter. 72.95% of the stock is currently owned by institutional investors.

NSC has been the subject of several recent research reports. Wells Fargo & Co initiated coverage on shares of Norfolk Southern in a research note on Monday, October 28th. They issued a “market perform” rating and a $216.00 price target for the company. BMO Capital Markets lowered their price target on shares of Norfolk Southern from $200.00 to $195.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Bank of America downgraded shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $198.00 price target for the company. in a research note on Wednesday, October 23rd. Cowen reissued a “buy” rating and issued a $215.00 price target on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Finally, Cascend Securities downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $204.29.

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Shares of NSC stock traded down $0.14 during mid-day trading on Friday, reaching $195.44. The stock had a trading volume of 888,465 shares, compared to its average volume of 1,670,462. The stock’s 50-day moving average price is $181.90 and its two-hundred day moving average price is $189.20. Norfolk Southern Corp. has a 52-week low of $138.65 and a 52-week high of $211.46. The firm has a market capitalization of $50.53 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 1.94 and a beta of 1.37. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, October 23rd. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.08). Norfolk Southern had a net margin of 23.98% and a return on equity of 18.22%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the previous year, the firm posted $2.52 EPS. Norfolk Southern’s revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Norfolk Southern Corp. will post 10.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 1st will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, October 31st. Norfolk Southern’s payout ratio is 39.54%.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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