Baxter Bros Inc. Sells 2,706 Shares of Norfolk Southern Co. (NYSE:NSC)

Baxter Bros Inc. lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 10.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,283 shares of the railroad operator's stock after selling 2,706 shares during the period. Baxter Bros Inc.'s holdings in Norfolk Southern were worth $5,537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of NSC. Lake Street Advisors Group LLC lifted its holdings in Norfolk Southern by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator's stock worth $563,000 after acquiring an additional 41 shares in the last quarter. Hall Capital Management Co. Inc. lifted its position in shares of Norfolk Southern by 2.8% in the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator's stock worth $325,000 after purchasing an additional 42 shares in the last quarter. Blue Chip Partners LLC grew its position in Norfolk Southern by 0.5% in the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator's stock valued at $1,656,000 after purchasing an additional 42 shares in the last quarter. Stephens Consulting LLC lifted its position in Norfolk Southern by 12.4% during the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator's stock worth $82,000 after buying an additional 42 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC increased its position in shares of Norfolk Southern by 4.2% in the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator's stock valued at $256,000 after acquiring an additional 42 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NSC shares. Stifel Nicolaus upped their price objective on Norfolk Southern from $241.00 to $245.00 and gave the stock a "hold" rating in a research note on Friday, October 11th. Barclays raised their price objective on Norfolk Southern from $275.00 to $290.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on Norfolk Southern from $270.00 to $280.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Finally, Citigroup lifted their price target on Norfolk Southern from $294.00 to $302.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Norfolk Southern presently has an average rating of "Moderate Buy" and a consensus price target of $274.16.

Insider Buying and Selling 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 of the company's stock, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Alan H. Shaw sold 51,325 shares of the company's stock in a transaction that occurred 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 directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sameh Fahmy purchased 1,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

Norfolk Southern Trading Up 0.4 %

NYSE:NSC traded up $1.00 during mid-day trading on Friday, hitting $250.09. 749,777 shares of the company's stock were exchanged, compared to its average volume of 1,174,827. 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 fifty-two week low of $190.01 and a fifty-two week high of $263.66. The firm has a market capitalization of $56.58 billion, a P/E ratio of 23.48, a PEG ratio of 2.38 and a beta of 1.30. The company has a 50 day simple moving average of $250.38 and a 200-day simple moving average of $237.05.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results 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 net margin of 19.85% and a return on equity of 20.25%. The company'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 firm posted $2.65 EPS. As a group, research 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 announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.16%. Norfolk Southern's payout ratio is currently 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.