Norfolk Southern Co. (NYSE:NSC) Shares Sold by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,124 shares of the railroad operator’s stock after selling 396 shares during the period. Norfolk Southern accounts for approximately 1.8% of Richard C. Young & CO. LTD.’s investment portfolio, making the stock its 19th biggest position. Richard C. Young & CO. LTD.’s holdings in Norfolk Southern were worth $16,929,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Lake Street Advisors Group LLC raised its holdings in Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after acquiring an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. lifted its position in Norfolk Southern by 2.8% during the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after buying an additional 42 shares in the last quarter. Blue Chip Partners LLC boosted its stake in Norfolk Southern by 0.5% during the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock worth $1,656,000 after buying an additional 42 shares during the last quarter. Stephens Consulting LLC increased its stake in shares of Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after acquiring an additional 42 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its holdings in shares of Norfolk Southern by 4.2% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after acquiring an additional 42 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

NSC stock opened at $261.26 on Monday. The business has a 50 day simple moving average of $252.99 and a 200-day simple moving average of $238.90. The company has a market capitalization of $59.11 billion, a P/E ratio of 24.53, a PEG ratio of 2.48 and a beta of 1.30. Norfolk Southern Co. has a twelve month low of $205.70 and a twelve month high of $277.60. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last issued its earnings results 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. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $2.65 earnings per share. As a group, equities analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors 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 2.07%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is currently 50.70%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NSC. Royal Bank of Canada raised their price objective on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. TD Cowen increased their price objective 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. Sanford C. Bernstein boosted their target price on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. UBS Group raised their price target on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One equities 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. Based on data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.68.

Insider Activity at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 59.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy purchased 1,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. This trade represents a 11.11 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

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.