Norfolk Southern Co. (NYSE:NSC) Shares Sold by Salomon & Ludwin LLC

Salomon & Ludwin LLC cut its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 70.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,201 shares of the railroad operator's stock after selling 5,203 shares during the period. Salomon & Ludwin LLC's holdings in Norfolk Southern were worth $547,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cedar Wealth Management LLC acquired a new position in Norfolk Southern in the 1st quarter valued at $27,000. 1620 Investment Advisors Inc. purchased a new position in shares of Norfolk Southern in the 2nd quarter worth $27,000. Financial Connections Group Inc. purchased a new position in shares of Norfolk Southern in the 2nd quarter worth $31,000. HWG Holdings LP purchased a new position in shares of Norfolk Southern in the 2nd quarter worth $31,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Norfolk Southern in the 2nd quarter worth $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NSC has been the topic of several research reports. Susquehanna increased their target price on Norfolk Southern from $280.00 to $285.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. UBS Group increased their target price on Norfolk Southern from $289.00 to $309.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Loop Capital increased their target price on Norfolk Southern from $285.00 to $287.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein increased their price target 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $274.16.

Norfolk Southern Stock Up 1.0 %

Shares of Norfolk Southern stock traded up $2.50 during trading hours on Monday, hitting $253.59. 964,684 shares of the company's stock traded hands, compared to its average volume of 1,258,064. The company has a market cap of $57.29 billion, a PE ratio of 40.69, a PEG ratio of 2.48 and a beta of 1.31. Norfolk Southern Co. has a twelve month low of $184.62 and a twelve month high of $263.66. The stock has a 50 day simple moving average of $249.22 and a 200-day simple moving average of $236.79. The company has a quick ratio of 0.54, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted 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 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%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $2.65 earnings per share. Equities research analysts anticipate that Norfolk Southern Co. will post 11.78 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.13%. Norfolk Southern's dividend payout ratio (DPR) is 86.96%.

Insider Buying and Selling

In other Norfolk Southern news, Director Sameh Fahmy bought 1,000 shares of the business's stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now directly 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 legal filing with the SEC, which is accessible through the SEC website. In other Norfolk Southern news, Director Sameh Fahmy bought 1,000 shares of the business's stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now directly 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 legal filing with the SEC, which is accessible through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the firm's 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 completion of the transaction, 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. Insiders own 0.19% of the company's stock.

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.