Ferguson Wellman Capital Management Inc. Decreases Holdings in Norfolk Southern Co. (NYSE:NSC)

Ferguson Wellman Capital Management Inc. reduced its position in Norfolk Southern Co. (NYSE:NSC) by 4.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,587 shares of the railroad operator’s stock after selling 112 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Norfolk Southern were worth $643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Norfolk Southern by 20.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after purchasing an additional 2,453 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $1,676,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Norfolk Southern by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after purchasing an additional 3,621 shares during the last quarter. Finally, Dakota Wealth Management lifted its holdings in shares of Norfolk Southern by 2.1% in the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock valued at $1,791,000 after purchasing an additional 150 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

NSC stock opened at $264.76 on Friday. Norfolk Southern Co. has a 1 year low of $204.90 and a 1 year high of $277.60. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The stock’s 50 day moving average price is $252.52 and its 200 day moving average price is $238.46. The firm has a market cap of $59.90 billion, a P/E ratio of 24.86, a PEG ratio of 2.55 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its 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. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm 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 company earned $2.65 EPS. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Stephens restated an “equal weight” rating and issued a $263.00 price target on shares of Norfolk Southern in a research report on Wednesday, October 23rd. UBS Group boosted their price target on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI dropped their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Loop Capital boosted their price target on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Insiders Place Their Bets

In other news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 59.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

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.