Pinnacle West Asset Management Inc. Acquires 65 Shares of Norfolk Southern Co. (NYSE:NSC)

Pinnacle West Asset Management Inc. boosted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,045 shares of the railroad operator’s stock after acquiring an additional 65 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Norfolk Southern were worth $1,005,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC lifted its position in shares of Norfolk Southern by 72.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,900 shares of the railroad operator’s stock worth $739,000 after purchasing an additional 1,221 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Norfolk Southern by 6.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,527 shares of the railroad operator’s stock worth $10,584,000 after purchasing an additional 2,483 shares during the period. Sunburst Financial Group LLC lifted its position in shares of Norfolk Southern by 16.4% in the 1st quarter. Sunburst Financial Group LLC now owns 1,063 shares of the railroad operator’s stock worth $268,000 after purchasing an additional 150 shares during the period. Indiana Trust & Investment Management CO lifted its position in shares of Norfolk Southern by 3.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock worth $376,000 after purchasing an additional 43 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in shares of Norfolk Southern in the 1st quarter worth approximately $56,144,000. 75.10% of the stock is owned by institutional investors.

Insider Activity at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the 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 completion of the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Richard H. Anderson purchased 2,000 shares of the stock in a transaction dated Monday, July 29th. The shares were purchased at an average cost of $247.48 per share, with a total value of $494,960.00. Following the completion of the acquisition, the director now owns 3,000 shares in the company, valued at $742,440. This represents a 200.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the 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 directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

NSC has been the topic of a number of research reports. UBS Group boosted their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday. Stephens reiterated an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a research report on Wednesday. Susquehanna boosted their target price on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday. Benchmark boosted their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group boosted their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern Stock Down 2.0 %

Shares of NYSE NSC traded down $5.10 during trading on Thursday, hitting $251.88. The stock had a trading volume of 481,379 shares, compared to its average volume of 1,256,146. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The company has a market capitalization of $56.90 billion, a PE ratio of 41.38, a PEG ratio of 2.33 and a beta of 1.31. The firm has a fifty day moving average of $248.76 and a two-hundred day moving average of $236.88.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business posted $2.65 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Norfolk Southern Co. will post 11.79 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.14%. Norfolk Southern’s payout ratio is 86.96%.

About Norfolk Southern

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.