Whitener Capital Management Inc. Reduces Stock Position in Norfolk Southern Co. (NYSE:NSC)

Whitener Capital Management Inc. decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,847 shares of the railroad operator’s stock after selling 115 shares during the period. Whitener Capital Management Inc.’s holdings in Norfolk Southern were worth $1,701,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Indie Asset Partners LLC purchased a new stake in Norfolk Southern in the 3rd quarter valued at about $260,000. Janney Capital Management LLC raised its stake in shares of Norfolk Southern by 4.8% during the third quarter. Janney Capital Management LLC now owns 1,294 shares of the railroad operator’s stock valued at $322,000 after acquiring an additional 59 shares in the last quarter. Optas LLC purchased a new stake in shares of Norfolk Southern in the third quarter valued at approximately $432,000. Chicago Partners Investment Group LLC grew its stake in Norfolk Southern by 5.4% in the third quarter. Chicago Partners Investment Group LLC now owns 3,600 shares of the railroad operator’s stock worth $925,000 after purchasing an additional 184 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Norfolk Southern by 31.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,945 shares of the railroad operator’s stock worth $732,000 after purchasing an additional 713 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average cost 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 in the company, valued at approximately $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Sameh Fahmy purchased 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group increased their price target on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup increased their target price on shares of Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Sanford C. Bernstein upped their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Evercore ISI cut their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their target price on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, October 11th. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $274.16.

Norfolk Southern Trading Up 0.4 %

Norfolk Southern stock opened at $250.09 on Friday. The stock has a 50-day moving average price of $250.38 and a 200 day moving average price of $237.06. The company has a market capitalization of $56.58 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 2.38 and a beta of 1.30. Norfolk Southern Co. has a 52 week low of $190.01 and a 52 week high of $263.66. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.65 EPS. Sell-side analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

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 given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

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.