Norfolk Southern Co. (NYSE:NSC) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 4.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,579 shares of the railroad operator’s stock after selling 120 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Norfolk Southern were worth $641,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NSC. Cedar Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the 1st quarter valued at about $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $27,000. Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $31,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sameh Fahmy bought 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the acquisition, the director now directly owns 7,700 shares in the company, valued at $1,887,655. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Up 1.7 %

NSC opened at $252.37 on Friday. The company’s 50 day simple moving average is $247.82 and its two-hundred day simple moving average is $236.77. The firm has a market capitalization of $57.01 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 EPS. Analysts expect that Norfolk Southern Co. will post 11.79 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.14%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Analysts Set New Price Targets

NSC has been the topic of a number of analyst reports. Morgan Stanley restated an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a research report on Monday, July 8th. Wells Fargo & Company raised their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Susquehanna raised their price target on shares of Norfolk Southern from $255.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Benchmark raised their price target on shares of Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Citigroup initiated coverage on shares of Norfolk Southern in a research note on Wednesday, October 9th. They issued a “buy” rating and a $294.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $266.17.

Norfolk Southern Company 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.