Norfolk Southern Co. (NYSE:NSC) Stock Position Lessened by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise reduced its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 19.3% during the third quarter, Holdings Channel.com reports. The firm owned 4,400 shares of the railroad operator’s stock after selling 1,053 shares during the period. Banque Cantonale Vaudoise’s holdings in Norfolk Southern were worth $1,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of NSC. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Norfolk Southern by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after acquiring an additional 2,453 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Norfolk Southern by 0.7% in the third 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 boosted its stake in Norfolk Southern by 25,181.8% during 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 bought a new stake in shares of Norfolk Southern in the 2nd quarter worth $1,676,000. Finally, Dakota Wealth Management raised its stake in shares of Norfolk Southern by 2.1% in the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.2 %

NYSE:NSC opened at $259.10 on Thursday. The stock has a market cap of $58.62 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The stock’s 50-day moving average is $253.25 and its two-hundred day moving average is $239.41.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.65 EPS. As a group, equities research analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were given a dividend of $1.35 per share. The ex-dividend date was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.08%. Norfolk Southern’s payout ratio is 50.70%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Sanford C. Bernstein lifted their target price on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Stephens reiterated an “equal weight” rating and issued a $263.00 target price on shares of Norfolk Southern in a report on Wednesday, October 23rd. Susquehanna raised their target price on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Loop Capital upped their price target on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup raised their price objective on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average price target of $275.68.

Insider Buying and Selling at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction on 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 completion of the sale, 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 sale 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 stock in a transaction on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.