Healthcare of Ontario Pension Plan Trust Fund Sells 45,323 Shares of Norfolk Southern Co. (NYSE:NSC)

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 88.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,027 shares of the railroad operator's stock after selling 45,323 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Norfolk Southern were worth $1,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NSC. Mirae Asset Global Investments Co. Ltd. lifted 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 purchasing an additional 2,453 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Norfolk Southern by 0.7% during 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 buying an additional 3,621 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in 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 valued at $222,025,000 after buying an additional 889,925 shares during the period. Seven Eight Capital LP bought a new stake in Norfolk Southern in the 2nd quarter worth $1,676,000. Finally, Dakota Wealth Management increased its position in shares of Norfolk Southern by 2.1% in the third quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator's stock valued at $1,791,000 after acquiring an additional 150 shares during the period. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Down 1.2 %

Shares of NSC stock traded down $3.25 during mid-day trading on Monday, hitting $272.60. The company's stock had a trading volume of 1,029,052 shares, compared to its average volume of 1,247,145. 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 $206.71 and a 52-week high of $277.60. The stock has a market cap of $61.67 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 2.62 and a beta of 1.30. The business has a 50-day moving average price of $256.63 and a 200 day moving average price of $241.57.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts' consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.65 earnings per share. Research analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy purchased 1,000 shares of the company's stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, for a total transaction 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, 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 59.42 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup boosted their price target on Norfolk Southern from $302.00 to $316.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Loop Capital boosted their target price on Norfolk Southern from $285.00 to $287.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on Norfolk Southern from $285.00 to $286.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, TD Cowen raised their target price 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.