Norfolk Southern Co. (NYSE:NSC) Stock Holdings Lessened by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 18.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,145 shares of the railroad operator's stock after selling 3,639 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Norfolk Southern were worth $4,091,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC lifted its stake in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator's stock valued at $222,025,000 after purchasing an additional 889,925 shares during the period. Seven Eight Capital LP purchased a new position in Norfolk Southern during the second quarter valued at $1,676,000. Dakota Wealth Management increased its stake 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 worth $1,791,000 after purchasing an additional 150 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Norfolk Southern in the second quarter worth about $13,627,000. Finally, Broderick Brian C purchased a new position in Norfolk Southern during the first quarter valued at $956,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $283.00 to $288.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Stephens reissued an "equal weight" rating and issued a $263.00 price objective on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Barclays upped their price target on shares of Norfolk Southern from $275.00 to $290.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Jefferies Financial Group boosted their price target on Norfolk Southern from $275.00 to $280.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Loop Capital increased their target price on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Norfolk Southern has a consensus rating of "Moderate Buy" and an average target price of $274.16.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy purchased 700 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Sameh Fahmy bought 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $245.15 per share, with a total value of $171,605.00. Following the completion of the transaction, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 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 currently owned by corporate insiders.

Norfolk Southern Price Performance

Shares of NYSE NSC traded up $0.35 during trading on Wednesday, reaching $252.76. The company had a trading volume of 809,718 shares, compared to its average volume of 1,254,058. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $57.18 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 2.38 and a beta of 1.31. Norfolk Southern Co. has a twelve month low of $187.75 and a twelve month high of $263.66. The stock has a 50-day moving average price of $249.70 and a two-hundred day moving average price of $236.87.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate 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%. Norfolk Southern's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.65 earnings per share. As a group, sell-side analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, November 1st. Norfolk Southern's dividend payout ratio (DPR) is presently 50.70%.

Norfolk Southern Company 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.