NorthRock Partners LLC Reduces Stock Position in Norfolk Southern Co. (NYSE:NSC)

NorthRock Partners LLC trimmed its position in Norfolk Southern Co. (NYSE:NSC) by 50.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 859 shares of the railroad operator’s stock after selling 859 shares during the period. NorthRock Partners LLC’s holdings in Norfolk Southern were worth $213,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern during the third quarter worth approximately $25,000. Cedar Wealth Management LLC purchased a new position in shares of Norfolk Southern during the 1st quarter worth $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern during the second quarter worth $27,000. Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern in the second quarter valued at $31,000. Finally, HWG Holdings LP acquired a new position in Norfolk Southern in the second quarter valued at $31,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern 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 completion of the sale, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the acquisition, 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 disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC stock opened at $276.94 on Thursday. Norfolk Southern Co. has a twelve month low of $193.00 and a twelve month high of $277.60. The company has a market capitalization of $62.65 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 2.35 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 fifty day simple moving average of $251.09 and a 200-day simple moving average of $237.45.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share 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 company had revenue of $3.10 billion during 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 revenue was up 3.3% on a year-over-year basis. Equities research analysts anticipate that Norfolk Southern Co. will post 11.81 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is 50.70%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NSC. Wells Fargo & Company lifted their price target on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Citigroup boosted their target price on shares of Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. TD Cowen lifted their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Evercore ISI lowered their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Company 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.