Freedom Investment Management Inc. Has $299,000 Stake in Norfolk Southern Co. (NYSE:NSC)

Freedom Investment Management Inc. reduced its stake in Norfolk Southern Co. (NYSE:NSC) by 20.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,204 shares of the railroad operator’s stock after selling 319 shares during the period. Freedom Investment Management Inc.’s holdings in Norfolk Southern were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new stake in shares of Norfolk Southern during the third quarter worth $25,000. 1620 Investment Advisors Inc. acquired a new position in Norfolk Southern in the 2nd quarter worth about $27,000. Financial Connections Group Inc. bought a new position in Norfolk Southern in the second quarter valued at about $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern during the second quarter valued at about $31,000. Finally, Coastline Trust Co bought a new stake in shares of Norfolk Southern during the third quarter worth about $32,000. 75.10% of the stock is owned by institutional investors.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 59.42 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Trading Up 0.2 %

NSC opened at $275.85 on Friday. The company has a fifty day moving average price of $256.63 and a two-hundred day moving average price of $241.50. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a market cap of $62.41 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping 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 company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business posted $2.65 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Analysts Set New Price Targets

NSC has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. Citigroup raised their price target on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Barclays boosted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Bank of America raised 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. Finally, Susquehanna upped their price target on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and an average price target of $275.68.

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.