Norfolk Southern Co. (NYSE:NSC) Shares Sold by CNB Bank

CNB Bank lowered its position in shares of Norfolk Southern Co. (NYSE:NSC) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,081 shares of the railroad operator’s stock after selling 151 shares during the quarter. CNB Bank’s holdings in Norfolk Southern were worth $517,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Hall Capital Management Co. Inc. lifted its position in shares of Norfolk Southern by 2.8% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after acquiring an additional 42 shares in the last quarter. Blue Chip Partners LLC lifted its holdings in shares of Norfolk Southern by 0.5% in the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after purchasing an additional 42 shares in the last quarter. Stephens Consulting LLC boosted its position in shares of Norfolk Southern by 12.4% in the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after buying an additional 42 shares during the period. Foster Victor Wealth Advisors LLC grew its holdings in shares of Norfolk Southern by 4.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after buying an additional 42 shares in the last quarter. Finally, Stratos Investment Management LLC raised its position in Norfolk Southern by 3.8% during the third quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator’s stock valued at $287,000 after buying an additional 42 shares during the period. Institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern 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 sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Up 1.7 %

Shares of Norfolk Southern stock opened at $252.37 on Friday. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The stock has a market capitalization of $57.01 billion, a P/E ratio of 40.64, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The company has a 50-day simple moving average of $247.82 and a 200 day simple moving average of $236.77. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. Norfolk Southern’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts expect that Norfolk Southern Co. will post 11.79 earnings per share 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.14%. Norfolk Southern’s dividend payout ratio is 86.96%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NSC shares. Wells Fargo & Company raised their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Sanford C. Bernstein lifted their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Morgan Stanley reaffirmed an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a research note on Monday, July 8th. Stifel Nicolaus lifted 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. Finally, Susquehanna boosted their target price on Norfolk Southern from $255.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $266.17.

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.