Norfolk Southern Co. (NYSE:NSC) Shares Sold by Tompkins Financial Corp

Tompkins Financial Corp reduced its position in shares of Norfolk Southern Co. (NYSE:NSC) by 24.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 825 shares of the railroad operator’s stock after selling 265 shares during the quarter. Tompkins Financial Corp’s holdings in Norfolk Southern were worth $205,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NSC. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern in the third quarter valued at $25,000. Cedar Wealth Management LLC purchased a new stake in Norfolk Southern in the 1st quarter valued at about $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Norfolk Southern during the 2nd quarter valued at about $27,000. Capital Performance Advisors LLP purchased a new position in shares of Norfolk Southern during the 3rd quarter worth about $33,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC traded up $0.96 during mid-day trading on Friday, reaching $271.67. 1,301,718 shares of the company’s stock traded hands, compared to its average volume of 1,309,854. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The business’s 50-day moving average price is $251.77 and its 200-day moving average price is $237.87. The stock has a market capitalization of $61.46 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 2.63 and a beta of 1.30. Norfolk Southern Co. has a 12 month low of $193.15 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.65 EPS. Equities analysts predict that Norfolk Southern Co. will post 11.81 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 1.99%. Norfolk Southern’s payout ratio is 50.70%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NSC. Jefferies Financial Group boosted their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Loop Capital upped their target price on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI decreased their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Bank of America upped their price objective on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their target price on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. 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 company. According to data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

Insiders Place Their Bets

In related news, Director Sameh Fahmy acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was acquired at an average cost of $255.00 per share, for a total transaction 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 approximately $2,550,000. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, 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 transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sameh Fahmy bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $255.00 per share, for a total transaction 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. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

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.