Curi RMB Capital LLC Acquires 141 Shares of Norfolk Southern Co. (NYSE:NSC)

Curi RMB Capital LLC grew its position in shares of Norfolk Southern Co. (NYSE:NSC) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,614 shares of the railroad operator’s stock after purchasing an additional 141 shares during the quarter. Curi RMB Capital LLC’s holdings in Norfolk Southern were worth $1,146,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in Norfolk Southern during the 3rd quarter worth approximately $25,000. Cedar Wealth Management LLC bought a new position in Norfolk Southern during the 1st quarter worth approximately $27,000. 1620 Investment Advisors Inc. bought a new position in Norfolk Southern during the 2nd quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new position in Norfolk Southern during the 3rd quarter worth approximately $33,000. Finally, Financial Connections Group Inc. bought a new position in Norfolk Southern during the 2nd quarter worth approximately $31,000. Institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Sanford C. Bernstein raised their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. UBS Group raised their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Citigroup raised their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group raised their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $275.68.

Insider Buying and Selling

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. This trade represents a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Norfolk Southern Price Performance

NSC opened at $261.27 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The company has a market capitalization of $59.11 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 2.55 and a beta of 1.30. The firm’s fifty day moving average price is $252.76 and its two-hundred day moving average price is $238.64. Norfolk Southern Co. has a 1 year low of $205.70 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.65 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

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.