TCTC Holdings LLC Sells 443 Shares of Norfolk Southern Co. (NYSE:NSC)

TCTC Holdings LLC lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 52.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 407 shares of the railroad operator’s stock after selling 443 shares during the period. TCTC Holdings LLC’s holdings in Norfolk Southern were worth $101,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Boston Partners raised its holdings in shares of Norfolk Southern by 157.1% in the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after purchasing an additional 1,766,135 shares during the period. Vanguard Group Inc. lifted its position in shares of Norfolk Southern by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after buying an additional 1,088,072 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after acquiring an additional 889,925 shares during the period. American Century Companies Inc. increased its holdings in Norfolk Southern by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after acquiring an additional 496,088 shares during the last quarter. Finally, EdgePoint Investment Group Inc. raised its stake in Norfolk Southern by 10.2% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,752,050 shares of the railroad operator’s stock valued at $956,285,000 after acquiring an additional 347,852 shares during the period. Institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In other news, Director Sameh Fahmy purchased 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, with a total value of $255,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sameh Fahmy acquired 1,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was bought at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NSC has been the topic of several research reports. Citigroup boosted their price target on shares of Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus boosted their price objective on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. Jefferies Financial Group raised their target price on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. TD Cowen upped their price target on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised their price objective on shares of Norfolk Southern from $289.00 to $309.00 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 issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $271.67 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern Co. has a 52-week low of $193.15 and a 52-week high of $277.60. The company has a fifty day moving average of $251.77 and a 200-day moving average of $237.87. The stock has a market capitalization of $61.46 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 2.63 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (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 firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the firm earned $2.65 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts expect that Norfolk Southern Co. will post 11.81 EPS for the current year.

Norfolk Southern Announces Dividend

The business 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 dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 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.