First United Bank Trust purchased a new position in shares of Norfolk Southern Corp. (NYSE:NSC) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,599 shares of the railroad operator’s stock, valued at approximately $469,000.
Several other large investors also recently bought and sold shares of the business. Zweig DiMenna Associates LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $975,000. City Holding Co. raised its stake in shares of Norfolk Southern by 3.4% in the third quarter. City Holding Co. now owns 11,356 shares of the railroad operator’s stock worth $2,050,000 after purchasing an additional 375 shares during the last quarter. Selective Wealth Management purchased a new stake in shares of Norfolk Southern in the third quarter worth approximately $217,000. Berkshire Asset Management LLC PA raised its stake in shares of Norfolk Southern by 6.1% in the third quarter. Berkshire Asset Management LLC PA now owns 125,110 shares of the railroad operator’s stock worth $22,582,000 after purchasing an additional 7,243 shares during the last quarter. Finally, TMD & Associates Inc. purchased a new stake in shares of Norfolk Southern in the third quarter worth approximately $313,000. 74.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:NSC opened at $167.05 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 0.69. The stock has a market cap of $45.91 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 1.52 and a beta of 1.32. Norfolk Southern Corp. has a 1 year low of $125.59 and a 1 year high of $186.91.
Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.08. Norfolk Southern had a return on equity of 15.12% and a net margin of 52.82%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the firm posted $1.75 EPS. The business’s revenue was up 10.4% on a year-over-year basis. On average, analysts expect that Norfolk Southern Corp. will post 9.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 2nd will be given a $0.80 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.92%. Norfolk Southern’s dividend payout ratio is currently 48.41%.
NSC has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Morgan Stanley increased their price objective on Norfolk Southern from $112.00 to $116.00 and gave the company a “sell” rating in a report on Tuesday, October 9th. Edward Jones lowered Norfolk Southern from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Deutsche Bank raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a report on Tuesday, August 14th. Finally, Bank of America raised their price target on Norfolk Southern from $183.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, October 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Norfolk Southern presently has a consensus rating of “Hold” and an average price target of $174.40.
In related news, Chairman James A. Squires sold 34,077 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $171.73, for a total value of $5,852,043.21. Following the completion of the transaction, the chairman now directly owns 63,958 shares in the company, valued at approximately $10,983,507.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Cynthia C. Earhart sold 2,370 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total transaction of $414,963.30. Following the sale, the vice president now owns 2,370 shares of the company’s stock, valued at $414,963.30. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
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Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.
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