South Street Advisors LLC Sells 160 Shares of Norfolk Southern Co. (NYSE:NSC)

South Street Advisors LLC trimmed its holdings in Norfolk Southern Co. (NYSE:NSC) by 10.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,350 shares of the railroad operator’s stock after selling 160 shares during the quarter. South Street Advisors LLC’s holdings in Norfolk Southern were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of the business’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 acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern 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 transaction, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 59.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Down 1.3 %

NSC stock traded down $3.50 during midday trading on Friday, reaching $261.26. The stock had a trading volume of 1,152,740 shares, compared to its average volume of 1,256,220. The business has a fifty day simple moving average of $252.99 and a two-hundred day simple moving average of $238.78. 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 firm has a market cap of $59.11 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 2.55 and a beta of 1.30. Norfolk Southern Co. has a twelve month low of $205.70 and a twelve month high of $277.60.

Norfolk Southern (NYSE:NSC) last issued its 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. 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 analysts’ expectations of $3.08 billion. During the same quarter last year, the business earned $2.65 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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 issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Bank of America lifted their price objective on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI cut their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price objective on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average target price of $275.68.

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.