BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 5,567 Shares of Norfolk Southern Co. (NYSE:NSC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 12.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,696 shares of the railroad operator's stock after selling 5,567 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Norfolk Southern were worth $9,367,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NSC. Mizuho Securities USA LLC raised its holdings in shares of Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator's stock worth $819,553,000 after purchasing an additional 3,280,579 shares during the period. Pathway Financial Advisers LLC increased its position 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 worth $222,025,000 after buying an additional 889,925 shares during the last quarter. FMR LLC raised its stake in shares of Norfolk Southern by 48.4% in the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator's stock valued at $671,532,000 after buying an additional 881,415 shares during the period. American Century Companies Inc. lifted its position in shares of Norfolk Southern by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator's stock valued at $720,626,000 after buying an additional 496,088 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Norfolk Southern by 23,037.4% during the 3rd quarter. International Assets Investment Management LLC now owns 349,143 shares of the railroad operator's stock worth $86,762,000 after acquiring an additional 347,634 shares during the period. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

NSC traded down $3.25 on Monday, reaching $272.60. The company had a trading volume of 1,029,052 shares, compared to its average volume of 1,247,145. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The company has a market cap of $61.67 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 2.62 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 has a 50 day simple moving average of $256.63 and a 200 day simple moving average of $241.57.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter last year, the company posted $2.65 EPS. The business's quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern's dividend payout ratio (DPR) is currently 50.70%.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $255.00 per share, with a total value of $255,000.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern 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 completion of the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 59.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NSC shares. Stephens restated an "equal weight" rating and issued a $263.00 price objective on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Benchmark boosted their price target on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Evercore ISI lowered their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Finally, Susquehanna increased their target price on Norfolk Southern from $280.00 to $285.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $275.68.

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.