Norfolk Southern Corporation $NSC Shares Bought by Harold Davidson & Associates Inc.

Harold Davidson & Associates Inc. grew its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 50.8% in the 3rd quarter, Holdings Channel reports. The firm owned 6,535 shares of the railroad operator’s stock after acquiring an additional 2,202 shares during the quarter. Norfolk Southern comprises approximately 0.9% of Harold Davidson & Associates Inc.’s holdings, making the stock its 26th biggest position. Harold Davidson & Associates Inc.’s holdings in Norfolk Southern were worth $1,963,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NSC. ORG Partners LLC grew its stake in Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares during the last quarter. BNP Paribas acquired a new position in shares of Norfolk Southern during the second quarter valued at $26,000. Westside Investment Management Inc. grew its position in shares of Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after acquiring an additional 58 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Norfolk Southern by 423.8% in the 2nd quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after acquiring an additional 89 shares during the period. Finally, MMA Asset Management LLC acquired a new stake in shares of Norfolk Southern in the 3rd quarter worth about $28,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of analyst reports. TD Cowen reduced their target price on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Morgan Stanley upgraded Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Barclays decreased their price objective on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft downgraded Norfolk Southern from a “buy” rating to a “hold” rating and cut their target price for the company from $354.00 to $297.00 in a research note on Thursday, December 11th. Finally, Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $304.47.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $316.94 on Thursday. The stock has a market cap of $71.17 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 5.62 and a beta of 1.34. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $319.94. The stock’s 50 day moving average price is $295.20 and its 200 day moving average price is $288.81.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 EPS. Equities research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be given a $1.35 dividend. The ex-dividend date is Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s payout ratio is 42.35%.

Insider Activity

In related news, Director William Jr. Clyburn acquired 204 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was bought at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the transaction, the director owned 405 shares of the company’s stock, valued at approximately $119,389.95. The trade was a 101.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.