Nations Financial Group Inc. IA ADV Decreases Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Nations Financial Group Inc. IA ADV reduced its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 38.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,278 shares of the railroad operator's stock after selling 3,283 shares during the quarter. Nations Financial Group Inc. IA ADV's holdings in Norfolk Southern were worth $1,312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter worth $25,000. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 1st quarter worth $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Norfolk Southern during the 2nd quarter worth $27,000. Financial Connections Group Inc. bought a new stake in shares of Norfolk Southern during the 2nd quarter worth $31,000. Finally, HWG Holdings LP bought a new stake in shares of Norfolk Southern during the 2nd quarter worth $31,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Price Performance

NYSE NSC traded up $1.40 on Wednesday, hitting $268.85. 228,372 shares of the company's stock were exchanged, compared to its average volume of 1,254,303. The stock has a 50-day moving average of $252.33 and a 200-day moving average of $238.24. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 52 week low of $201.44 and a 52 week high of $277.60. The stock has a market cap of $60.82 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 2.54 and a beta of 1.30.

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 analysts' consensus estimates of $3.11 by $0.14. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Norfolk Southern's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.65 earnings per share. Analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be given a $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.01%. Norfolk Southern's payout ratio is 50.70%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NSC. Stifel Nicolaus increased their target price on Norfolk Southern from $241.00 to $245.00 and gave the company a "hold" rating in a report on Friday, October 11th. Royal Bank of Canada increased their target price on Norfolk Southern from $272.00 to $282.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. TD Cowen increased their target price on Norfolk Southern from $253.00 to $259.00 and gave the company a "hold" rating in a report on Wednesday, October 23rd. UBS Group increased their target price on Norfolk Southern from $289.00 to $309.00 and gave the company a "buy" rating 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 company a "neutral" rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $275.68.

Insider Activity at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Sameh Fahmy acquired 1,000 shares of the company's stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $255.00 per share, with a total value of $255,000.00. Following the acquisition, the director now owns 10,000 shares of the company's stock, valued at approximately $2,550,000. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

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.