Schrum Private Wealth Management LLC Has $315,000 Stock Position in Norfolk Southern Co. (NYSE:NSC)

Schrum Private Wealth Management LLC lessened its position in Norfolk Southern Co. (NYSE:NSC) by 51.9% in the third quarter, HoldingsChannel reports. The fund owned 1,266 shares of the railroad operator’s stock after selling 1,367 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in Norfolk Southern were worth $315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NSC. Boston Partners increased its stake in Norfolk Southern by 157.1% during the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock valued at $735,749,000 after purchasing an additional 1,766,135 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Norfolk Southern by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after acquiring an additional 1,088,072 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares in the last quarter. American Century Companies Inc. lifted its position in Norfolk Southern by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock valued at $720,626,000 after acquiring an additional 496,088 shares in the last quarter. Finally, EdgePoint Investment Group Inc. increased its holdings in Norfolk Southern by 10.2% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,752,050 shares of the railroad operator’s stock worth $956,285,000 after purchasing an additional 347,852 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Insider Activity

In related news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Norfolk Southern news, Director Sameh Fahmy purchased 1,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s 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 sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Up 0.7 %

Shares of NSC stock opened at $269.26 on Thursday. Norfolk Southern Co. has a 1 year low of $201.44 and a 1 year high of $277.60. The company’s fifty day simple moving average is $252.33 and its two-hundred day simple moving average is $238.24. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The stock has a market capitalization of $60.92 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 2.54 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.65 EPS. As a group, analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is 50.70%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NSC shares. Citigroup raised their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Evercore ISI cut their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on shares of Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group upped their target price on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.68.

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.