Factorial Partners LLC trimmed its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 29.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,890 shares of the railroad operator's stock after selling 2,910 shares during the quarter. Factorial Partners LLC's holdings in Norfolk Southern were worth $1,712,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of NSC. Highline Wealth Partners LLC acquired a new stake in shares of Norfolk Southern in the third quarter worth about $25,000. 1620 Investment Advisors Inc. bought a new position in Norfolk Southern in the second quarter valued at approximately $27,000. Financial Connections Group Inc. acquired a new position in Norfolk Southern in the second quarter valued at $31,000. HWG Holdings LP bought a new position in Norfolk Southern in the 2nd quarter valued at about $31,000. Finally, Coastline Trust Co purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 75.10% of the company's stock.
Norfolk Southern Price Performance
NYSE:NSC traded down $0.78 during mid-day trading on Wednesday, reaching $258.93. The stock had a trading volume of 907,866 shares, compared to its average volume of 1,251,401. The stock has a 50-day simple moving average of $253.14 and a two-hundred day simple moving average of $239.27. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The stock has a market capitalization of $58.58 billion, a PE ratio of 24.39, a P/E/G ratio of 2.48 and a beta of 1.30.
Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company earned $2.65 EPS. Norfolk Southern's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current year.
Norfolk Southern Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, November 1st. Norfolk Southern's payout ratio is presently 50.70%.
Analysts Set New Price Targets
Several brokerages recently issued reports on NSC. Bank of America boosted their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a "buy" 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 company a "hold" rating in a research report on Wednesday, October 23rd. Benchmark raised their target price 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. Susquehanna lifted their target price on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Finally, UBS Group boosted their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a "buy" rating in a 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 given a buy rating to the company's stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of "Moderate Buy" and an average target price of $275.68.
Get Our Latest Stock Analysis on Norfolk Southern
Insider Buying and Selling at Norfolk Southern
In other news, Director Sameh Fahmy acquired 1,000 shares of Norfolk Southern stock in a transaction that occurred 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 purchase, the director now directly owns 10,000 shares of the company's stock, valued at $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the company'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 completion of the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This represents a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
About Norfolk Southern
(
Free Report)
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.
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