Norfolk Southern Co. (NYSE:NSC) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC lowered its position in Norfolk Southern Co. (NYSE:NSC) by 39.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136 shares of the railroad operator’s stock after selling 87 shares during the quarter. LGT Financial Advisors LLC’s holdings in Norfolk Southern were worth $34,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC lifted its position in shares of Norfolk Southern by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after purchasing an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. lifted its holdings in Norfolk Southern by 2.8% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after buying an additional 42 shares during the last quarter. Blue Chip Partners LLC boosted its position in shares of Norfolk Southern by 0.5% during the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock worth $1,656,000 after acquiring an additional 42 shares in the last quarter. Stephens Consulting LLC increased its holdings in shares of Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after acquiring an additional 42 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its position in shares of Norfolk Southern by 4.2% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after acquiring an additional 42 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on NSC. Bank of America increased their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. TD Cowen boosted their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Citigroup raised their price objective on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI reduced their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy bought 1,000 shares of the stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Sameh Fahmy acquired 1,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, October 24th. The stock was purchased 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 owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction 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 directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $276.94 on Thursday. Norfolk Southern Co. has a 52 week low of $193.00 and a 52 week high of $277.60. The company has a 50-day moving average price of $251.09 and a 200 day moving average price of $237.45. The company has a market cap of $62.65 billion, a P/E ratio of 26.00, a PEG ratio of 2.35 and a beta of 1.30. 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 (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the firm earned $2.65 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts predict that Norfolk Southern Co. will post 11.81 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business 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 $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.95%. Norfolk Southern’s dividend payout ratio is presently 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.