Norfolk Southern Co. (NYSE:NSC) Shares Sold by MAI Capital Management

MAI Capital Management lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 11.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,992 shares of the railroad operator’s stock after selling 2,535 shares during the quarter. MAI Capital Management’s holdings in Norfolk Southern were worth $4,968,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in shares of Norfolk Southern during the third quarter valued at $25,000. 1620 Investment Advisors Inc. acquired a new position in Norfolk Southern during the 2nd quarter valued at about $27,000. Financial Connections Group Inc. bought a new position in Norfolk Southern in the 2nd quarter worth about $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern in the second quarter valued at approximately $31,000. Finally, Coastline Trust Co bought a new stake in shares of Norfolk Southern during the third quarter valued at approximately $32,000. 75.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on NSC shares. Susquehanna raised their target price on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Benchmark lifted their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Stephens reissued an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Finally, Loop Capital upped their price target on shares of Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Stock Down 1.0 %

NSC stock opened at $259.71 on Wednesday. The company’s 50 day simple moving average is $253.14 and its 200-day simple moving average is $239.27. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. 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 firm has a market capitalization of $58.76 billion, a P/E ratio of 24.39, a P/E/G ratio of 2.48 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating 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 company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.65 earnings per share. As a group, equities research analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced 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 of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.08%. Norfolk Southern’s dividend payout ratio is 50.70%.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy purchased 1,000 shares of the company’s stock in a transaction dated 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 purchase, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern 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 sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 59.42 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

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.