MML Investors Services LLC Increases Stake in Norfolk Southern Co. (NYSE:NSC)

MML Investors Services LLC increased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 5.3% in the third quarter, Holdings Channel.com reports. The firm owned 17,903 shares of the railroad operator’s stock after purchasing an additional 900 shares during the quarter. MML Investors Services LLC’s holdings in Norfolk Southern were worth $4,449,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new position in shares of Norfolk Southern during the second quarter valued at approximately $47,000. OFI Invest Asset Management purchased a new stake in Norfolk Southern in the second quarter worth $846,000. Raymond James & Associates lifted its position in shares of Norfolk Southern by 1.2% during the second quarter. Raymond James & Associates now owns 324,059 shares of the railroad operator’s stock worth $69,572,000 after purchasing an additional 3,828 shares during the last quarter. Zhang Financial LLC boosted its stake in shares of Norfolk Southern by 5.4% during the second quarter. Zhang Financial LLC now owns 949 shares of the railroad operator’s stock valued at $204,000 after purchasing an additional 49 shares during the period. Finally, First Pacific Financial grew its holdings in shares of Norfolk Southern by 6.9% in the second quarter. First Pacific Financial now owns 3,188 shares of the railroad operator’s stock worth $684,000 after purchasing an additional 207 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NSC has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Susquehanna boosted their price target on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Evercore ISI reduced their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Stephens reaffirmed an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price target on Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Trading Down 0.8 %

NYSE:NSC opened at $246.22 on Friday. The firm has a 50 day moving average of $259.16 and a 200 day moving average of $243.50. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The stock has a market capitalization of $55.70 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.35 and a beta of 1.31.

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

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.19%. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

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.