Beese Fulmer Investment Management Inc. Has $2.04 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Beese Fulmer Investment Management Inc. trimmed its holdings in Norfolk Southern Co. (NYSE:NSC) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,224 shares of the railroad operator’s stock after selling 250 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Norfolk Southern were worth $2,044,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Seven Eight Capital LP purchased a new position in Norfolk Southern in the second quarter worth $1,676,000. Manning & Napier Advisors LLC bought a new position in shares of Norfolk Southern in the 2nd quarter worth $13,627,000. Broderick Brian C purchased a new position in shares of Norfolk Southern during the 1st quarter valued at about $956,000. OFI Invest Asset Management purchased a new stake in shares of Norfolk Southern in the 2nd quarter valued at $846,000. Finally, Hoxton Planning & Management LLC bought a new position in shares of Norfolk Southern during the third quarter valued at about $583,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern 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 approximately $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sameh Fahmy purchased 700 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the acquisition, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Down 1.3 %

NSC stock opened at $256.98 on Thursday. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The firm has a market cap of $58.06 billion, a PE ratio of 41.38, a PEG ratio of 2.33 and a beta of 1.31. The firm’s 50 day moving average price is $248.76 and its 200-day moving average price is $236.88.

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, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm earned $2.65 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Norfolk Southern Co. will post 11.79 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank of Canada increased their price objective on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen boosted their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday. Stephens reissued an “equal weight” rating and issued a $263.00 target price on shares of Norfolk Southern in a report on Wednesday. Jefferies Financial Group increased their price target on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their target price on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $274.16.

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.