Janney Montgomery Scott LLC Has $27.44 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Janney Montgomery Scott LLC cut its stake in Norfolk Southern Co. (NYSE:NSC) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,409 shares of the railroad operator’s stock after selling 4,349 shares during the period. Janney Montgomery Scott LLC’s holdings in Norfolk Southern were worth $27,437,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NSC. Highline Wealth Partners LLC bought a new stake in Norfolk Southern during the 3rd quarter worth approximately $25,000. Cedar Wealth Management LLC bought a new stake in Norfolk Southern during the 1st quarter worth approximately $27,000. 1620 Investment Advisors Inc. bought a new stake in Norfolk Southern during the 2nd quarter worth approximately $27,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern during the 2nd quarter worth approximately $31,000. Finally, HWG Holdings LP bought a new stake in Norfolk Southern during the 2nd quarter worth approximately $31,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy bought 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related 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 value of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sameh Fahmy bought 1,000 shares of the stock in a transaction that occurred 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 $2,550,000. The trade was 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.

Norfolk Southern Stock Performance

NSC opened at $247.59 on Tuesday. The business’s 50-day moving average price is $250.49 and its two-hundred day moving average price is $237.10. Norfolk Southern Co. has a 1 year low of $192.53 and a 1 year high of $263.66. The company has a market capitalization of $56.01 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 2.38 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business posted $2.65 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is 50.70%.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of recent research reports. Stephens reiterated an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a research report on Wednesday, October 23rd. TD Cowen increased their price objective on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Susquehanna raised their price target on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Bank of America raised their price target on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Loop Capital raised their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

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.