Gold Investment Management Ltd. Sells 1,585 Shares of Norfolk Southern Co. (NYSE:NSC)

Gold Investment Management Ltd. trimmed its stake in Norfolk Southern Co. (NYSE:NSC) by 14.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,018 shares of the railroad operator’s stock after selling 1,585 shares during the period. Gold Investment Management Ltd.’s holdings in Norfolk Southern were worth $2,231,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in shares of Norfolk Southern in the 3rd quarter worth $25,000. Cedar Wealth Management LLC bought a new position in shares of Norfolk Southern in the 1st quarter worth $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern in the 2nd quarter worth $27,000. Financial Connections Group Inc. bought a new position in shares of Norfolk Southern in the 2nd quarter worth $31,000. Finally, HWG Holdings LP bought a new position in shares of Norfolk Southern in the 2nd quarter worth $31,000. 75.10% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Sameh Fahmy bought 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, with a total value of $255,000.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Sameh Fahmy bought 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, with a total value of $255,000.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $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. Insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $270.88 on Friday. Norfolk Southern Co. has a one year low of $193.15 and a one year high of $277.60. The company has a market cap of $61.28 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.35 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 business’s 50 day moving average price is $251.09 and its 200 day moving average price is $237.45.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the business earned $2.65 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts predict that Norfolk Southern Co. will post 11.81 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed 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 is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.99%. Norfolk Southern’s payout ratio is presently 50.70%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NSC. Benchmark upped their target price on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group upped their target price on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays upped their target price on Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Susquehanna upped their target price on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Bank of America upped their target price on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.