Groupama Asset Managment Reduces Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Groupama Asset Managment reduced its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 36.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,788 shares of the railroad operator's stock after selling 4,406 shares during the period. Groupama Asset Managment's holdings in Norfolk Southern were worth $1,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of Norfolk Southern by 2.1% in the third quarter. State Street Corp now owns 9,330,849 shares of the railroad operator's stock worth $2,318,716,000 after purchasing an additional 196,249 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in Norfolk Southern by 2.7% in the third quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator's stock worth $967,340,000 after buying an additional 103,281 shares in the last quarter. American Century Companies Inc. boosted its stake in Norfolk Southern by 17.3% in the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator's stock worth $720,626,000 after buying an additional 496,088 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in Norfolk Southern by 18,831.2% in the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator's stock worth $819,553,000 after buying an additional 3,280,579 shares in the last quarter. Finally, FMR LLC boosted its stake in Norfolk Southern by 48.4% in the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator's stock worth $671,532,000 after buying an additional 881,415 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Down 1.1 %

Shares of NSC stock traded down $2.75 during mid-day trading on Monday, hitting $258.03. 608,608 shares of the stock traded hands, compared to its average volume of 1,236,281. The stock has a market cap of $58.38 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.47 and a beta of 1.31. 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's fifty day moving average is $258.80 and its two-hundred day moving average is $242.88. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping 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 company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company earned $2.65 EPS. Norfolk Southern's quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were paid a $1.35 dividend. The ex-dividend date was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.09%. Norfolk Southern's dividend payout ratio is currently 50.70%.

Insider Buying and Selling at Norfolk Southern

In other news, 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 transaction, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 59.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sameh Fahmy bought 1,000 shares of the firm's stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NSC has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on Norfolk Southern from $275.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Barclays upped their target price on Norfolk Southern from $290.00 to $305.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Loop Capital upped their target price on Norfolk Southern from $285.00 to $287.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Benchmark upped their target price on Norfolk Southern from $270.00 to $285.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein upped their target price on Norfolk Southern from $285.00 to $286.00 and gave the company an "outperform" rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.