MetLife Investment Management LLC Sells 1,469 Shares of Norfolk Southern Co. (NYSE:NSC)

MetLife Investment Management LLC reduced its stake in Norfolk Southern Co. (NYSE:NSC) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,790 shares of the railroad operator’s stock after selling 1,469 shares during the period. MetLife Investment Management LLC’s holdings in Norfolk Southern were worth $14,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NSC. Mirae Asset Global Investments Co. Ltd. grew its position in Norfolk Southern by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after acquiring an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Norfolk Southern by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after purchasing an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after purchasing an additional 889,925 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth about $1,676,000. Finally, Dakota Wealth Management lifted 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 valued at $1,791,000 after purchasing an additional 150 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NSC shares. Jefferies Financial Group raised their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Evercore ISI cut their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Barclays boosted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Susquehanna raised their target price on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Stephens reiterated an “equal weight” rating and set a $263.00 price target on shares of Norfolk Southern in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern Stock Down 0.3 %

Shares of Norfolk Southern stock opened at $275.38 on Thursday. The business has a fifty day simple moving average of $255.60 and a 200 day simple moving average of $240.87. The stock has a market cap of $62.30 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.62 and a beta of 1.30. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the business posted $2.65 EPS. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. Research analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were issued a $1.35 dividend. The ex-dividend date was Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 1.96%. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy purchased 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at $2,550,000. This represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This represents a 59.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.