Prime Capital Investment Advisors LLC Sells 191 Shares of Norfolk Southern Co. (NYSE:NSC)

Prime Capital Investment Advisors LLC cut its position in shares of Norfolk Southern Co. (NYSE:NSC) by 2.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,360 shares of the railroad operator’s stock after selling 191 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Norfolk Southern were worth $2,326,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NSC. Boston Partners boosted its stake in Norfolk Southern by 157.1% during the first quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock valued at $735,749,000 after buying an additional 1,766,135 shares during the last quarter. Vanguard Group Inc. boosted its stake in Norfolk Southern by 5.9% during the first quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after buying an additional 1,088,072 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in Norfolk Southern by 25,181.8% during the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after buying an additional 889,925 shares during the last quarter. American Century Companies Inc. boosted its stake in Norfolk Southern by 17.3% during the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock valued at $720,626,000 after buying an additional 496,088 shares during the last quarter. Finally, EdgePoint Investment Group Inc. boosted its stake in Norfolk Southern by 10.2% during the first quarter. EdgePoint Investment Group Inc. now owns 3,752,050 shares of the railroad operator’s stock valued at $956,285,000 after buying an additional 347,852 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of the firm’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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Alan H. Shaw sold 51,325 shares of the firm’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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sameh Fahmy acquired 1,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Up 0.7 %

NSC opened at $269.26 on Thursday. The stock’s fifty day moving average is $252.33 and its two-hundred day moving average is $238.24. The company has a market capitalization of $60.92 billion, a P/E ratio of 25.28, a PEG ratio of 2.54 and a beta of 1.30. Norfolk Southern Co. has a 52 week low of $201.44 and a 52 week high of $277.60. 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 (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping 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 return on equity of 20.25% and a net margin of 19.85%. Norfolk Southern’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $2.65 EPS. Analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.01%. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NSC. Loop Capital raised their price objective on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays raised their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday. Evercore ISI lowered their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. TD Cowen raised their price objective on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Finally, Bank of America raised their price objective on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average 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.