Norfolk Southern Co. (NYSE:NSC) Shares Sold by Searle & CO.

Searle & CO. lessened its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,833 shares of the railroad operator’s stock after selling 126 shares during the period. Searle & CO.’s holdings in Norfolk Southern were worth $953,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NSC. Cedar Wealth Management LLC purchased a new stake in Norfolk Southern in the first quarter valued at $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern during the second quarter worth $27,000. Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern in the 2nd quarter worth $31,000. HWG Holdings LP purchased a new stake in Norfolk Southern in the 2nd quarter valued at approximately $31,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Norfolk Southern in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 1.6 %

NYSE:NSC traded down $4.12 during trading hours on Wednesday, hitting $256.31. The stock had a trading volume of 313,183 shares, compared to its average volume of 1,253,803. The company has a market cap of $57.90 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The business has a 50 day simple moving average of $248.46 and a two-hundred day simple moving average of $236.73. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.15. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the business earned $2.65 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Analysts predict that Norfolk Southern Co. will post 11.79 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.11%. Norfolk Southern’s payout ratio is currently 86.96%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy purchased 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NSC has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday. Stifel Nicolaus raised their price objective on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. Royal Bank of Canada lifted their price objective on Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. TD Cowen upped their price objective on shares of Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Evercore ISI lowered their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $269.83.

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.