Sanctuary Wealth Management L.L.C. Invests $62,000 in Norfolk Southern Co. (NYSE:NSC)

Sanctuary Wealth Management L.L.C. purchased a new stake in Norfolk Southern Co. (NYSE:NSC) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 250 shares of the railroad operator’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. Mirae Asset Global Investments Co. Ltd. boosted 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 worth $3,556,000 after purchasing an additional 2,453 shares during the period. Pathway Financial Advisers LLC boosted its stake in 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 worth $222,025,000 after buying an additional 889,925 shares during the period. Seven Eight Capital LP bought a new position in Norfolk Southern during the second quarter valued at $1,676,000. Dakota Wealth Management raised its stake in shares of Norfolk Southern by 2.1% in the third quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock valued at $1,791,000 after acquiring an additional 150 shares during the period. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Norfolk Southern in the 2nd quarter worth about $13,627,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Bank of America increased their price target on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada upped their price objective on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Evercore ISI decreased their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price target on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

Insiders Place Their Bets

In related news, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated 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 owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sameh Fahmy acquired 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was purchased at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Up 0.4 %

Shares of NSC stock traded up $0.96 during mid-day trading on Friday, hitting $271.67. 1,301,718 shares of the stock traded hands, compared to its average volume of 1,309,854. Norfolk Southern Co. has a 52-week low of $193.15 and a 52-week high of $277.60. The stock has a market cap of $61.46 billion, a P/E ratio of 25.51, a P/E/G ratio of 2.63 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The stock’s fifty day moving average is $251.77 and its two-hundred day moving average is $237.87.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. Norfolk Southern’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $2.65 earnings per share. Equities analysts predict that Norfolk Southern Co. will post 11.81 EPS for the current 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 issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio is presently 50.70%.

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.