Norfolk Southern Co. (NYSE:NSC) Shares Bought by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC increased its stake in Norfolk Southern Co. (NYSE:NSC) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,043 shares of the railroad operator’s stock after acquiring an additional 42 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Norfolk Southern were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Cedar Wealth Management LLC acquired a new stake in Norfolk Southern during the 1st quarter worth approximately $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern in the second quarter worth $27,000. Financial Connections Group Inc. purchased a new position in shares of Norfolk Southern in the 2nd quarter valued at $31,000. HWG Holdings LP acquired a new position in shares of Norfolk Southern during the 2nd quarter valued at $31,000. Finally, Rise Advisors LLC purchased a new stake in Norfolk Southern during the 1st quarter worth $34,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their target price on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Jefferies Financial Group raised their price target on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein boosted their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Finally, Susquehanna upped their target price on Norfolk Southern from $255.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus price target of $266.17.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $255.65 on Thursday. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The stock has a fifty day moving average price of $247.44 and a two-hundred day moving average price of $236.78. The firm has a market capitalization of $57.75 billion, a P/E ratio of 41.17, a P/E/G ratio of 2.33 and a beta of 1.31.

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

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.11%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Insider Activity at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Norfolk Southern news, Director Richard H. Anderson acquired 2,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average price of $247.48 per share, for a total transaction of $494,960.00. Following the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $742,440. This trade represents a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’s 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 sale, 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 disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

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.