Norfolk Southern Co. (NYSE:NSC) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc reduced its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 19.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,823 shares of the railroad operator's stock after selling 3,067 shares during the period. Prospera Financial Services Inc's holdings in Norfolk Southern were worth $3,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in shares of Norfolk Southern by 54.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 6,435 shares of the railroad operator's stock worth $1,599,000 after acquiring an additional 2,275 shares in the last quarter. OneAscent Financial Services LLC purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth about $237,000. Aviance Capital Partners LLC purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth about $240,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth about $75,000. Finally, Planning Directions Inc. purchased a new position in Norfolk Southern in the 3rd quarter valued at about $218,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 59.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sameh Fahmy purchased 1,000 shares of the company's stock in a transaction dated Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company's stock, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $259.10 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The stock has a market capitalization of $58.62 billion, a PE ratio of 24.33, a P/E/G ratio of 2.46 and a beta of 1.30. The firm has a 50 day moving average of $253.25 and a two-hundred day moving average of $239.41.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same period in the previous year, the company earned $2.65 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were paid a $1.35 dividend. The ex-dividend date was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.08%. Norfolk Southern's dividend payout ratio is presently 50.70%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NSC. Citigroup raised their price target on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Sanford C. Bernstein raised their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. UBS Group raised their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Stifel Nicolaus raised their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a "hold" rating in a research note on Friday, October 11th. Finally, Susquehanna raised their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $275.68.

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.