Whittier Trust Co. of Nevada Inc. Buys 1,102 Shares of Norfolk Southern Co. (NYSE:NSC)

Whittier Trust Co. of Nevada Inc. boosted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,655 shares of the railroad operator’s stock after purchasing an additional 1,102 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Norfolk Southern were worth $18,055,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages recently commented on NSC. 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 report on Friday, October 11th. Wells Fargo & Company upped their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Evercore ISI raised their price target on Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Citigroup initiated coverage on shares of Norfolk Southern in a research report on Wednesday, October 9th. They set a “buy” rating and a $294.00 price objective for the company. Finally, Susquehanna increased their price target on shares of Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $266.17.

Norfolk Southern Price Performance

NYSE:NSC traded down $3.81 during trading hours on Monday, hitting $248.56. The stock had a trading volume of 763,051 shares, compared to its average volume of 1,250,222. The company has a 50 day simple moving average of $247.82 and a two-hundred day simple moving average of $236.66. The firm has a market capitalization of $56.15 billion, a price-to-earnings ratio of 40.15, a P/E/G ratio of 2.33 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the business earned $2.95 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts forecast that Norfolk Southern Co. will post 11.79 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.17%. Norfolk Southern’s dividend payout ratio is presently 86.96%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other Norfolk Southern news, Director Sameh Fahmy acquired 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, with a total value 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 approximately $1,887,655. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the 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 sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.