Essex Savings Bank Grows Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Essex Savings Bank grew its position in Norfolk Southern Co. (NYSE:NSC) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,497 shares of the railroad operator’s stock after buying an additional 87 shares during the quarter. Essex Savings Bank’s holdings in Norfolk Southern were worth $1,525,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC raised its holdings in shares of Norfolk Southern by 18,831.2% in the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after acquiring an additional 3,280,579 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares in the last quarter. FMR LLC boosted its stake in shares of Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after purchasing an additional 881,415 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Norfolk Southern during the third quarter valued at approximately $207,830,000. Finally, Holocene Advisors LP acquired a new stake in Norfolk Southern during the third quarter worth approximately $122,798,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $240.55 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The stock has a 50 day moving average of $252.80 and a 200-day moving average of $246.23. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The stock has a market cap of $54.42 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 2.11 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results 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 company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.65 EPS. On average, analysts expect that Norfolk Southern Co. will post 11.79 EPS 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 $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NSC. TD Cowen raised their price objective on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America increased their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Loop Capital boosted their price objective on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, UBS Group increased their target price on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $275.68.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 350 shares of the stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $249.37 per share, with a total value 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. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company’s stock.

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.