Norfolk Southern Corp. (NSC) Shares Bought by Cwm LLC

Share on StockTwits

Cwm LLC raised its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 43.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,290 shares of the railroad operator’s stock after buying an additional 390 shares during the quarter. Cwm LLC’s holdings in Norfolk Southern were worth $233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. United Bank boosted its position in shares of Norfolk Southern by 3.1% during the 2nd quarter. United Bank now owns 9,940 shares of the railroad operator’s stock valued at $1,500,000 after acquiring an additional 295 shares during the last quarter. Tower Bridge Advisors boosted its position in shares of Norfolk Southern by 2.8% during the 2nd quarter. Tower Bridge Advisors now owns 10,996 shares of the railroad operator’s stock valued at $1,659,000 after acquiring an additional 300 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Norfolk Southern by 4.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 7,300 shares of the railroad operator’s stock valued at $1,102,000 after acquiring an additional 301 shares during the last quarter. Advisor Partners LLC boosted its position in shares of Norfolk Southern by 5.3% during the 2nd quarter. Advisor Partners LLC now owns 6,266 shares of the railroad operator’s stock valued at $945,000 after acquiring an additional 317 shares during the last quarter. Finally, Cadinha & Co. LLC boosted its position in shares of Norfolk Southern by 19.0% during the 2nd quarter. Cadinha & Co. LLC now owns 2,000 shares of the railroad operator’s stock valued at $302,000 after acquiring an additional 320 shares during the last quarter. 74.38% of the stock is owned by institutional investors and hedge funds.

In related news, Chairman James A. Squires sold 34,077 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $171.73, for a total value of $5,852,043.21. Following the completion of the sale, the chairman now directly owns 63,958 shares in the company, valued at $10,983,507.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Cynthia C. Earhart sold 2,370 shares of Norfolk Southern stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $175.09, for a total value of $414,963.30. Following the sale, the vice president now owns 2,370 shares of the company’s stock, valued at $414,963.30. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

A number of research analysts have recently commented on NSC shares. Royal Bank of Canada reiterated a “hold” rating and set a $158.00 target price on shares of Norfolk Southern in a research report on Friday, July 13th. Cowen reiterated a “buy” rating and set a $188.00 target price on shares of Norfolk Southern in a research report on Wednesday, July 25th. Scotiabank set a $175.00 target price on Norfolk Southern and gave the company a “buy” rating in a research report on Wednesday, July 25th. Loop Capital upgraded Norfolk Southern from a “sell” rating to a “hold” rating and set a $135.00 target price for the company in a research report on Thursday, July 26th. Finally, Stifel Nicolaus increased their target price on Norfolk Southern from $159.00 to $176.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Norfolk Southern presently has an average rating of “Hold” and a consensus price target of $174.40.

Shares of NSC opened at $167.20 on Tuesday. The firm has a market capitalization of $45.91 billion, a P/E ratio of 25.30, a P/E/G ratio of 1.52 and a beta of 1.32. Norfolk Southern Corp. has a 52-week low of $125.59 and a 52-week high of $186.91. The company has a quick ratio of 0.75, a current ratio of 0.86 and a debt-to-equity ratio of 0.69.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. Norfolk Southern had a return on equity of 15.12% and a net margin of 52.82%. Norfolk Southern’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the company earned $1.75 earnings per share. On average, sell-side analysts anticipate that Norfolk Southern Corp. will post 9.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 2nd will be given a $0.80 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $3.20 dividend on an annualized basis and a yield of 1.91%. Norfolk Southern’s dividend payout ratio is presently 48.41%.

TRADEMARK VIOLATION NOTICE: “Norfolk Southern Corp. (NSC) Shares Bought by Cwm LLC” was originally reported by Macon Daily and is owned by of Macon Daily. If you are reading this story on another website, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this story can be read at https://macondaily.com/2018/11/06/norfolk-southern-corp-nsc-shares-bought-by-cwm-llc.html.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

Featured Story: Can individual investors take part in an IPO?

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corp. (NYSE:NSC).

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

Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply