Norfolk Southern Co. (NYSE:NSC) Shares Sold by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC reduced its stake in shares of Norfolk Southern Co. (NYSE:NSCGet Rating) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,994 shares of the railroad operator’s stock after selling 200 shares during the period. SignalPoint Asset Management LLC’s holdings in Norfolk Southern were worth $854,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vectors Research Management LLC grew its holdings in Norfolk Southern by 468.8% during the 4th quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Concord Wealth Partners boosted its holdings in shares of Norfolk Southern by 2,300.0% in the 1st quarter. Concord Wealth Partners now owns 120 shares of the railroad operator’s stock valued at $34,000 after buying an additional 115 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Norfolk Southern by 141.4% in the 4th quarter. Benjamin Edwards Inc. now owns 140 shares of the railroad operator’s stock valued at $42,000 after buying an additional 82 shares during the period. Riverview Trust Co acquired a new position in shares of Norfolk Southern in the 1st quarter valued at about $42,000. Finally, HWG Holdings LP acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $43,000. 73.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NSC shares. Cowen decreased their price target on shares of Norfolk Southern from $331.00 to $316.00 in a report on Thursday, July 28th. Stephens cut their price objective on shares of Norfolk Southern from $244.00 to $243.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 28th. Susquehanna cut their price objective on shares of Norfolk Southern from $350.00 to $275.00 in a research report on Wednesday, July 6th. Stifel Nicolaus upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and cut their price objective for the company from $289.00 to $275.00 in a research report on Friday, July 15th. They noted that the move was a valuation call. Finally, Evercore ISI cut their price objective on shares of Norfolk Southern from $278.00 to $266.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $283.10.

Insider Buying and Selling at Norfolk Southern

In other news, Director James A. Squires sold 105,420 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $248.81, for a total value of $26,229,550.20. Following the completion of the sale, the director now directly owns 42,728 shares in the company, valued at $10,631,153.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Alan H. Shaw sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $241.84, for a total transaction of $241,840.00. Following the completion of the transaction, the chief executive officer now directly owns 34,255 shares in the company, valued at approximately $8,284,229.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James A. Squires sold 105,420 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $248.81, for a total transaction of $26,229,550.20. Following the transaction, the director now owns 42,728 shares of the company’s stock, valued at $10,631,153.68. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Norfolk Southern Stock Up 0.5 %

NSC traded up $1.32 on Friday, reaching $251.02. 627,594 shares of the company traded hands, compared to its average volume of 1,294,636. The stock’s 50 day moving average price is $234.32 and its 200-day moving average price is $253.77. Norfolk Southern Co. has a 52-week low of $217.00 and a 52-week high of $299.20. The company has a market cap of $58.96 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.86 and a beta of 1.32. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.10 and a quick ratio of 0.98.

Norfolk Southern (NYSE:NSCGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The railroad operator reported $3.45 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.03). The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Norfolk Southern had a net margin of 25.57% and a return on equity of 22.42%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.28 earnings per share. On average, sell-side analysts expect that Norfolk Southern Co. will post 13.67 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, August 20th. Shareholders of record on Monday, August 8th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, August 5th. Norfolk Southern’s dividend payout ratio (DPR) is presently 39.49%.

Norfolk Southern Profile

(Get Rating)

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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

Further Reading

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Co. (NYSE:NSCGet Rating).

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.