Empire Financial Management Company LLC Sells 63 Shares of Norfolk Southern Co. (NYSE:NSC)

Empire Financial Management Company LLC decreased its stake in Norfolk Southern Co. (NYSE:NSC) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,572 shares of the railroad operator’s stock after selling 63 shares during the quarter. Empire Financial Management Company LLC’s holdings in Norfolk Southern were worth $2,130,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC grew its position in Norfolk Southern by 9.6% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 3,714 shares of the railroad operator’s stock worth $797,000 after acquiring an additional 325 shares during the last quarter. Diversified Trust Co increased its stake in shares of Norfolk Southern by 15.2% in the second quarter. Diversified Trust Co now owns 3,646 shares of the railroad operator’s stock valued at $783,000 after buying an additional 480 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Norfolk Southern by 4.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,234 shares of the railroad operator’s stock worth $9,282,000 after acquiring an additional 1,707 shares during the last quarter. ORG Partners LLC acquired a new position in shares of Norfolk Southern in the second quarter worth approximately $192,000. Finally, AdvisorNet Financial Inc boosted its holdings in Norfolk Southern by 9.5% in the second quarter. AdvisorNet Financial Inc now owns 576 shares of the railroad operator’s stock valued at $124,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NSC shares. Barclays boosted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Evercore ISI decreased their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Stifel Nicolaus boosted their price objective on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. Stephens reiterated an “equal weight” rating and issued a $263.00 target price on shares of Norfolk Southern in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their price target on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.68.

Norfolk Southern Stock Performance

Shares of NSC opened at $256.08 on Wednesday. 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 quick ratio of 0.65 and a current ratio of 0.73. The stock has a 50 day moving average price of $258.96 and a two-hundred day moving average price of $243.10. The firm has a market capitalization of $57.94 billion, a P/E ratio of 24.05, a P/E/G ratio of 2.47 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The business 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%. Norfolk Southern’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.65 EPS. Equities analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.11%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Insiders Place Their Bets

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

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.