Norfolk Southern Co. (NYSE:NSC) Stock Holdings Cut by Richard W. Paul & Associates LLC

Richard W. Paul & Associates LLC lessened its position in Norfolk Southern Co. (NYSE:NSC) by 19.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 900 shares of the railroad operator’s stock after selling 218 shares during the period. Richard W. Paul & Associates LLC’s holdings in Norfolk Southern were worth $224,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Cedar Wealth Management LLC bought a new stake in Norfolk Southern in the first quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $27,000. Financial Connections Group Inc. bought a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $31,000. HWG Holdings LP acquired a new stake in Norfolk Southern during the second quarter valued at approximately $31,000. Finally, Hobbs Group Advisors LLC bought a new stake in Norfolk Southern during the second quarter worth approximately $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on NSC. Stifel Nicolaus upped their price target on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. Royal Bank of Canada boosted their target price on Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Susquehanna increased their price target on Norfolk Southern from $255.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. TD Cowen lifted their price target on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group upped their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $266.17.

Insider Buying and Selling

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the 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 owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $252.37 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The business’s 50-day moving average price is $247.82 and its two-hundred day moving average price is $236.87. The company has a market capitalization of $57.01 billion, a P/E ratio of 40.64, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, beating the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 EPS. Analysts anticipate that Norfolk Southern Co. will post 11.79 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed 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. This represents a $5.40 annualized dividend and a dividend yield of 2.14%. Norfolk Southern’s payout ratio is presently 86.96%.

About Norfolk Southern

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.