Sequoia Financial Advisors LLC raised its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 16.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,249 shares of the railroad operator's stock after acquiring an additional 9,342 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Norfolk Southern were worth $16,214,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Home Federal Bank of Tennessee lifted its holdings in Norfolk Southern by 1.7% in the third quarter. Home Federal Bank of Tennessee now owns 8,337 shares of the railroad operator's stock valued at $2,072,000 after acquiring an additional 138 shares during the period. Oakworth Capital Inc. lifted its holdings in Norfolk Southern by 3.2% in the third quarter. Oakworth Capital Inc. now owns 2,135 shares of the railroad operator's stock valued at $531,000 after acquiring an additional 66 shares during the period. Maple Capital Management Inc. acquired a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $225,000. Tull Financial Group Inc. acquired a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $829,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Norfolk Southern by 1.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 72,655 shares of the railroad operator's stock worth $18,055,000 after buying an additional 1,102 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.
Norfolk Southern Trading Up 4.9 %
Shares of Norfolk Southern stock traded up $12.27 during trading hours on Tuesday, hitting $260.43. The company's stock had a trading volume of 2,079,894 shares, compared to its average volume of 1,257,816. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The firm has a fifty day moving average of $248.46 and a 200-day moving average of $236.73. The stock has a market cap of $58.83 billion, a price-to-earnings ratio of 41.94, a P/E/G ratio of 2.33 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63.
Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the company posted $2.95 EPS. The company's quarterly revenue was up 2.1% on a year-over-year basis. Research analysts forecast that Norfolk Southern Co. will post 11.79 EPS for the current year.
Norfolk Southern Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, November 1st. Norfolk Southern's payout ratio is 86.96%.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Benchmark upped their target price on Norfolk Southern from $266.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. TD Cowen upped their target price on Norfolk Southern from $251.00 to $253.00 and gave the stock a "hold" rating in a research note on Friday, July 26th. Morgan Stanley reaffirmed an "underweight" rating and set a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. Susquehanna upped their target price on Norfolk Southern from $255.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $266.61.
Check Out Our Latest Analysis on NSC
Insider Buying and Selling
In related news, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares of the company's stock, valued at $371,077.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 0.00 % decrease in their position. 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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