Cordatus Wealth Management LLC lowered its position in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 37.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,666 shares of the railroad operator’s stock after selling 2,781 shares during the period. Cordatus Wealth Management LLC’s holdings in Norfolk Southern were worth $1,159,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 buying an additional 2,453 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Norfolk Southern during the 2nd quarter valued at approximately $1,676,000. Dakota Wealth Management increased its holdings in Norfolk Southern by 2.1% during the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after purchasing an additional 150 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at approximately $13,627,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. TD Cowen increased their price target 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 upped their price objective on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup increased their target price on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One equities 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $274.16.
Insiders Place Their Bets
In related news, Director Sameh Fahmy acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was acquired 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. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Sameh Fahmy acquired 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was acquired at an average price 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 in the company, valued at $2,550,000. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s 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 in the company, valued at approximately $8,970,819.10. This trade represents 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 insiders.
Norfolk Southern Stock Performance
Shares of NYSE NSC traded down $0.82 during midday trading on Thursday, hitting $251.92. 162,233 shares of the company’s stock were exchanged, compared to its average volume of 1,250,142. Norfolk Southern Co. has a twelve month low of $187.75 and a twelve month high of $263.66. The firm has a market cap of $56.99 billion, a P/E ratio of 23.72, a PEG ratio of 2.38 and a beta of 1.31. The stock’s 50 day moving average price is $249.93 and its 200-day moving average price is $236.98. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.65 EPS. Equities research analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current year.
Norfolk Southern Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.14%. Norfolk Southern’s payout ratio is 50.70%.
Norfolk Southern 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.
Read More
- Five stocks we like better than Norfolk Southern
- Most active stocks: Dollar volume vs share volume
- Microsoft Can Hit New All-Time Highs This Year – Here’s Why
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Zillow Stock’s Bull Case: Why This Recent Sell-Off Could Be a Buy
- How to Use the MarketBeat Stock Screener
- IonQ’s Quantum Surge: Ride the Wave or Cash Out?
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:NSC – Free Report).
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.