Insider Selling: Norfolk Southern Co. (NYSE:NSC) CEO Sells 51,325 Shares of Stock

Norfolk Southern Co. (NYSE:NSC) CEO Alan H. Shaw sold 51,325 shares of the 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 completion of the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Norfolk Southern Stock Performance

Shares of NSC opened at $244.88 on Friday. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The company has a 50-day moving average of $246.79 and a two-hundred day moving average of $237.24. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The stock has a market cap of $55.32 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 2.40 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $2.95 EPS. On average, equities research analysts expect that Norfolk Southern Co. will post 11.8 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Institutional Investors Weigh In On Norfolk Southern

A number of institutional investors have recently bought and sold shares of NSC. Cedar Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the first quarter worth approximately $27,000. 1620 Investment Advisors Inc. purchased a new stake in Norfolk Southern in the 2nd quarter worth approximately $27,000. Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at $31,000. HWG Holdings LP purchased a new position in shares of Norfolk Southern during the 2nd quarter valued at $31,000. Finally, Rise Advisors LLC acquired a new position in shares of Norfolk Southern in the first quarter worth $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NSC. Susquehanna increased their target price on shares of Norfolk Southern from $255.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday. Evercore ISI increased their price objective on shares of Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. TD Cowen boosted their target price on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada increased their price target on Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley reissued an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research note on Monday, July 8th. 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’s stock. According to MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average price target of $266.56.

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.