Norfolk Southern Co. (NYSE:NSC) Stake Lessened by South Street Advisors LLC

South Street Advisors LLC decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 10.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,350 shares of the railroad operator’s stock after selling 160 shares during the period. South Street Advisors LLC’s holdings in Norfolk Southern were worth $335,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NSC. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Norfolk Southern by 41.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 26,913 shares of the railroad operator’s stock valued at $6,859,000 after purchasing an additional 7,938 shares during the last quarter. First Foundation Advisors increased its stake in Norfolk Southern by 13.5% during the first quarter. First Foundation Advisors now owns 1,008 shares of the railroad operator’s stock valued at $257,000 after purchasing an additional 120 shares during the last quarter. Vanguard Group Inc. increased its stake in Norfolk Southern by 5.9% during the first quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after purchasing an additional 1,088,072 shares during the last quarter. Allstate Corp bought a new stake in Norfolk Southern during the first quarter valued at $218,000. Finally, Patten & Patten Inc. TN increased its stake in Norfolk Southern by 7.9% during the first quarter. Patten & Patten Inc. TN now owns 21,088 shares of the railroad operator’s stock valued at $5,375,000 after purchasing an additional 1,550 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

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

Norfolk Southern Trading Down 1.3 %

NSC stock traded down $3.50 during mid-day trading on Friday, reaching $261.26. 1,152,740 shares of the stock traded hands, compared to its average volume of 1,256,220. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 52-week low of $205.70 and a 52-week high of $277.60. The company has a market cap of $59.11 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.55 and a beta of 1.30. The stock’s fifty day moving average is $252.99 and its 200-day moving average is $238.78.

Norfolk Southern (NYSE:NSCGet Free Report) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate 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 prior year, the company earned $2.65 EPS. As a group, sell-side analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors 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 yield of 2.07%. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NSC shares. Susquehanna upped their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup increased their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus increased their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. TD Cowen increased their target price 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. Finally, Wells Fargo & Company increased their target price on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.68.

Read Our Latest Stock Analysis on Norfolk Southern

Norfolk Southern Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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