Certified Advisory Corp Raises Stock Position in Norfolk Southern Co. (NYSE:NSC)

Certified Advisory Corp increased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 9.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,581 shares of the railroad operator’s stock after acquiring an additional 414 shares during the period. Certified Advisory Corp’s holdings in Norfolk Southern were worth $1,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lake Street Advisors Group LLC grew its holdings in shares of Norfolk Southern by 1.8% during the third 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 in the last quarter. Hall Capital Management Co. Inc. grew its stake in Norfolk Southern by 2.8% in 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 in the last quarter. Blue Chip Partners LLC increased its holdings in shares of Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock worth $1,656,000 after buying an additional 42 shares during the last quarter. Stephens Consulting LLC raised its position in shares of Norfolk Southern by 12.4% during the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after buying an additional 42 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its holdings 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 during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $268.95 on Friday. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The firm has a market cap of $60.85 billion, a P/E ratio of 25.25, a P/E/G ratio of 2.51 and a beta of 1.30. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The firm has a 50-day moving average of $253.90 and a 200-day moving average of $239.90.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping 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 quarter last year, the business posted $2.65 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s payout ratio is currently 50.70%.

Analyst Ratings Changes

NSC has been the topic of a number of research analyst reports. Stifel Nicolaus increased their target price on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. Jefferies Financial Group increased their price objective on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Evercore ISI dropped their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Barclays upped their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Stephens reissued an “equal weight” rating and set a $263.00 price target on shares of Norfolk Southern in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $275.68.

Insider Buying and Selling at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s 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 transaction, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 59.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 price of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern 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.