Trust Point Inc. Has $228,000 Position in Norfolk Southern Co. (NYSE:NSC)

Trust Point Inc. cut its position in Norfolk Southern Co. (NYSE:NSC) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 918 shares of the railroad operator’s stock after selling 195 shares during the period. Trust Point Inc.’s holdings in Norfolk Southern were worth $228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cedar Wealth Management LLC bought a new position in Norfolk Southern during the first quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern during the 2nd quarter valued at about $27,000. Financial Connections Group Inc. acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at approximately $31,000. HWG Holdings LP bought a new stake in Norfolk Southern during the 2nd quarter worth approximately $31,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Norfolk Southern during the 2nd quarter worth approximately $34,000. 75.10% of the stock is owned by institutional investors.

Insider Activity

In related news, 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 transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction 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 sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

NSC has been the subject of several research analyst reports. Citigroup assumed coverage on shares of Norfolk Southern in a research report on Wednesday, October 9th. They set a “buy” rating and a $294.00 price objective for the company. Jefferies Financial Group increased their target price on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein boosted their price target on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Stifel Nicolaus increased their price objective on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, October 11th. Finally, TD Cowen boosted their target price on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given 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 $266.17.

Norfolk Southern Trading Up 1.7 %

Shares of NYSE:NSC opened at $252.37 on Friday. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The company has a market capitalization of $57.01 billion, a P/E ratio of 40.64, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The company has a 50-day simple moving average of $247.82 and a 200 day simple moving average of $236.77.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $2.95 earnings per share. Sell-side analysts forecast that Norfolk Southern Co. will post 11.79 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.14%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

About Norfolk Southern

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.