Norfolk Southern Co. (NYSE:NSC) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its holdings in Norfolk Southern Co. (NYSE:NSC) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,200 shares of the railroad operator’s stock after selling 100 shares during the quarter. Cullinan Associates Inc.’s holdings in Norfolk Southern were worth $5,023,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Seven Eight Capital LP acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at approximately $1,676,000. Manning & Napier Advisors LLC purchased a new stake in Norfolk Southern during the second quarter worth $13,627,000. Broderick Brian C acquired a new stake in Norfolk Southern in the first quarter valued at $956,000. OFI Invest Asset Management acquired a new position in shares of Norfolk Southern during the 2nd quarter worth $846,000. Finally, Hoxton Planning & Management LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth about $583,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 0.0 %

Shares of NSC traded down $0.07 during mid-day trading on Friday, reaching $253.35. The company had a trading volume of 37,280 shares, compared to its average volume of 1,254,699. Norfolk Southern Co. has a fifty-two week low of $183.76 and a fifty-two week high of $263.66. The firm has a fifty day simple moving average of $248.76 and a 200-day simple moving average of $236.88. The stock has a market cap of $57.28 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. The company has a current ratio of 0.73, a quick ratio of 0.54 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.65 earnings per share. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 11.78 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be issued a $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.13%. Norfolk Southern’s payout ratio is 50.70%.

Insider Buying and Selling at Norfolk Southern

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

Analyst Ratings Changes

NSC has been the subject of several recent research reports. UBS Group raised their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday. Susquehanna lifted their price objective on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday. TD Cowen increased their target price on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday. Benchmark raised their price target on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus upped their price objective on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $274.16.

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.