Coastline Trust Co Invests $32,000 in Norfolk Southern Co. (NYSE:NSC)

Coastline Trust Co acquired a new position in shares of Norfolk Southern Co. (NYSE:NSC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 130 shares of the railroad operator’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Highline Wealth Partners LLC bought a new position in shares of Norfolk Southern during the third quarter valued at $25,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern in the second quarter worth about $27,000. Financial Connections Group Inc. bought a new position in shares of Norfolk Southern in the second quarter worth approximately $31,000. HWG Holdings LP bought a new position in shares of Norfolk Southern in the second quarter worth approximately $31,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Norfolk Southern during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on NSC. Stephens reaffirmed an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a research report on Wednesday, October 23rd. Benchmark lifted their price objective on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America boosted their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna raised their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Loop Capital boosted their price objective on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.68.

Norfolk Southern Stock Down 1.3 %

NYSE NSC opened at $261.26 on Monday. Norfolk Southern Co. has a 52 week low of $205.70 and a 52 week high of $277.60. 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 company has a market capitalization of $59.11 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30. The stock’s 50-day moving average price is $252.99 and its 200-day moving average price is $238.90.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion for 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 firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.65 EPS. On average, equities research analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. This represents a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.