Financial Counselors Inc. Sells 81 Shares of Norfolk Southern Co. (NYSE:NSC)

Financial Counselors Inc. decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,237 shares of the railroad operator’s stock after selling 81 shares during the quarter. Financial Counselors Inc.’s holdings in Norfolk Southern were worth $2,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC bought a new position in Norfolk Southern during the third quarter worth $25,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern during the 2nd quarter worth about $27,000. Financial Connections Group Inc. acquired a new position in shares of Norfolk Southern during the second quarter valued at about $31,000. HWG Holdings LP bought a new stake in shares of Norfolk Southern in the second quarter valued at about $31,000. Finally, Coastline Trust Co acquired a new stake in Norfolk Southern during the third quarter worth about $32,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC stock opened at $276.10 on Friday. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The stock has a market capitalization of $62.46 billion, a PE ratio of 25.92, a PEG ratio of 2.61 and a beta of 1.30. 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 fifty day moving average is $256.63 and its 200-day moving average is $241.42.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. 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 firm earned $2.65 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Insider Buying and Selling

In other news, Director Sameh Fahmy acquired 1,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on NSC shares. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Susquehanna raised their target price on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Barclays boosted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Evercore ISI lowered their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

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.