Catalyst Financial Partners LLC Cuts Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Catalyst Financial Partners LLC lowered its position in Norfolk Southern Co. (NYSE:NSC) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,231 shares of the railroad operator’s stock after selling 102 shares during the period. Catalyst Financial Partners LLC’s holdings in Norfolk Southern were worth $554,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Norfolk Southern by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after buying an additional 2,453 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Norfolk Southern during the 2nd quarter valued at approximately $1,676,000. Dakota Wealth Management boosted its holdings in Norfolk Southern by 2.1% in the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after buying an additional 150 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in shares of Norfolk Southern during the second quarter valued at about $13,627,000. 75.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NSC. Bank of America increased their target price on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Benchmark boosted their price target on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group lifted their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $251.94 on Thursday. The firm’s 50 day moving average price is $249.93 and its 200-day moving average price is $236.98. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $57.00 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.38 and a beta of 1.31. Norfolk Southern Co. has a twelve month low of $187.75 and a twelve month high of $263.66.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results 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 net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm earned $2.65 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Insiders Place Their Bets

In other news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated Friday, September 13th. The stock was 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 directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the business’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 sale, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sameh Fahmy bought 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

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.