Groupama Asset Managment Cuts Position in Norfolk Southern Co. (NYSE:NSC)

Groupama Asset Managment lowered its position in shares of Norfolk Southern Co. (NYSE:NSC) by 36.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,788 shares of the railroad operator’s stock after selling 4,406 shares during the quarter. Groupama Asset Managment’s holdings in Norfolk Southern were worth $1,935,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NSC. Mirae Asset Global Investments Co. Ltd. grew its stake in Norfolk Southern by 20.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after buying an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Norfolk Southern by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after purchasing an additional 3,621 shares during the period. Pathway Financial Advisers LLC increased its holdings in Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares in the last quarter. Seven Eight Capital LP purchased a new position in Norfolk Southern in the second quarter valued at about $1,676,000. Finally, Dakota Wealth Management lifted its stake in shares of Norfolk Southern by 2.1% during the third quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Down 1.2 %

NSC stock opened at $260.78 on Monday. The firm has a market cap of $59.00 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 2.47 and a beta of 1.31. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The firm has a fifty day moving average price of $258.80 and a two-hundred day moving average price of $242.88. 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 announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is 50.70%.

Wall Street Analyst Weigh In

NSC has been the topic of several analyst reports. Bank of America boosted 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. Stifel Nicolaus upped their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. Wells Fargo & Company raised their price target on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Evercore ISI decreased 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 report on Wednesday, October 23rd. Finally, Citigroup raised their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and an average target price of $275.68.

Insider Activity at Norfolk Southern

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

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.