Norfolk Southern Co. (NYSE:NSC) Shares Sold by River Street Advisors LLC

by · The Markets Daily

River Street Advisors LLC decreased its position in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,697 shares of the railroad operator’s stock after selling 79 shares during the quarter. River Street Advisors LLC’s holdings in Norfolk Southern were worth $919,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC raised its stake in shares of Norfolk Southern by 18,831.2% during the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after purchasing an additional 3,280,579 shares in the last quarter. Boston Partners raised its stake in shares of Norfolk Southern by 157.1% during the first quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock valued at $735,749,000 after purchasing an additional 1,766,135 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Norfolk Southern by 5.9% during the first quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after purchasing an additional 1,088,072 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Norfolk Southern by 25,181.8% during the third 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 in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Norfolk Southern by 17.3% during the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock valued at $720,626,000 after purchasing an additional 496,088 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on NSC shares. UBS Group boosted their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada boosted their price target on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus lifted their price target on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. One investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $275.68.

Read Our Latest Stock Report on Norfolk Southern

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy bought 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $2,550,000. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s 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 sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 59.42 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Norfolk Southern Stock Down 1.3 %

NYSE NSC traded down $3.50 during trading on Friday, reaching $261.26. The company’s stock had a trading volume of 1,152,740 shares, compared to its average volume of 1,256,220. The business has a 50-day moving average price of $252.99 and a 200-day moving average price of $238.78. Norfolk Southern Co. has a 1-year low of $205.70 and a 1-year high of $277.60. The stock has a market capitalization of $59.11 billion, a PE ratio of 24.53, a PEG ratio of 2.55 and a beta of 1.30. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share 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 business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business earned $2.65 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is 50.70%.

Norfolk Southern Profile

(Free Report)

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.

See Also

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