Lafayette Investments Inc. Sells 149 Shares of Norfolk Southern Co. (NYSE:NSC)

Lafayette Investments Inc. cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,294 shares of the railroad operator’s stock after selling 149 shares during the quarter. Norfolk Southern makes up 1.8% of Lafayette Investments Inc.’s portfolio, making the stock its 15th largest position. Lafayette Investments Inc.’s holdings in Norfolk Southern were worth $8,522,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NSC. Wealthcare Advisory Partners LLC raised its holdings in shares of Norfolk Southern by 72.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,900 shares of the railroad operator’s stock valued at $739,000 after purchasing an additional 1,221 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Norfolk Southern by 6.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,527 shares of the railroad operator’s stock valued at $10,584,000 after acquiring an additional 2,483 shares during the period. Sunburst Financial Group LLC raised its holdings in Norfolk Southern by 16.4% in the 1st quarter. Sunburst Financial Group LLC now owns 1,063 shares of the railroad operator’s stock valued at $268,000 after acquiring an additional 150 shares during the period. Indiana Trust & Investment Management CO raised its holdings in Norfolk Southern by 3.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock valued at $376,000 after acquiring an additional 43 shares during the period. Finally, Artemis Investment Management LLP bought a new position in Norfolk Southern in the 1st quarter valued at about $56,144,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Down 0.4 %

Shares of NSC stock traded down $0.91 during trading hours on Thursday, hitting $256.07. 141,585 shares of the company’s stock traded hands, compared to its average volume of 1,254,496. The stock’s 50 day simple moving average is $248.76 and its 200 day simple moving average is $236.88. The stock has a market cap of $57.85 billion, a PE ratio of 41.38, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.14. The firm 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 14.85% and a return on equity of 19.64%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.65 earnings per share. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 11.79 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is currently 86.96%.

Analyst Ratings Changes

A number of research analysts have issued reports on NSC shares. Morgan Stanley restated an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a research report on Monday, July 8th. Evercore ISI decreased their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research report on Wednesday. Stifel Nicolaus increased their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. UBS Group increased their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $274.16.

Insider Activity

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern 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 transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern 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.