Kanawha Capital Management LLC Has $13.43 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Kanawha Capital Management LLC lowered its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,058 shares of the railroad operator's stock after selling 2,846 shares during the quarter. Kanawha Capital Management LLC's holdings in Norfolk Southern were worth $13,433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NSC. Robeco Institutional Asset Management B.V. boosted its position in Norfolk Southern by 79.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 22,398 shares of the railroad operator's stock worth $5,566,000 after purchasing an additional 9,891 shares during the period. Van ECK Associates Corp lifted its stake in shares of Norfolk Southern by 123.5% in the third quarter. Van ECK Associates Corp now owns 44,628 shares of the railroad operator's stock worth $11,469,000 after buying an additional 24,662 shares during the last quarter. Indie Asset Partners LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter worth $260,000. Janney Capital Management LLC grew its stake in Norfolk Southern by 4.8% in the 3rd quarter. Janney Capital Management LLC now owns 1,294 shares of the railroad operator's stock valued at $322,000 after buying an additional 59 shares during the last quarter. Finally, Optas LLC bought a new position in Norfolk Southern in the 3rd quarter worth $432,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NSC shares. TD Cowen raised their price target on Norfolk Southern from $253.00 to $259.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised 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. Bank of America upped their price target on Norfolk Southern from $276.00 to $291.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Citigroup raised their price objective on shares of Norfolk Southern from $294.00 to $302.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their target price on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.16.

Insider Activity

In other Norfolk Southern news, 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 value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Sameh Fahmy acquired 1,000 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the transaction, the director now directly owns 10,000 shares of the company's stock, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the company's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $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 Norfolk Southern stock traded down $2.50 during midday trading on Monday, hitting $247.59. 1,058,829 shares of the company were exchanged, compared to its average volume of 1,252,430. The firm has a 50 day simple moving average of $250.49 and a 200-day simple moving average of $237.10. Norfolk Southern Co. has a 52 week low of $192.53 and a 52 week high of $263.66. The firm has a market cap of $56.01 billion, a P/E ratio of 23.25, a PEG ratio of 2.38 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion for 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 firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.65 EPS. Research analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern's payout ratio is 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.