TCI Wealth Advisors Inc. Sells 53 Shares of Norfolk Southern Co. (NYSE:NSC)

TCI Wealth Advisors Inc. lessened its stake in Norfolk Southern Co. (NYSE:NSC) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,780 shares of the railroad operator’s stock after selling 53 shares during the period. TCI Wealth Advisors Inc.’s holdings in Norfolk Southern were worth $442,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted 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 buying an additional 1,088,072 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Norfolk Southern by 2.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,986,180 shares of the railroad operator’s stock worth $1,525,699,000 after acquiring an additional 124,362 shares during the period. EdgePoint Investment Group Inc. grew its holdings in Norfolk Southern by 1.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 3,789,436 shares of the railroad operator’s stock worth $813,554,000 after acquiring an additional 37,386 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of 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 purchasing an additional 496,088 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Norfolk Southern by 157.1% in the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after purchasing an additional 1,766,135 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC stock traded up $0.68 during trading hours on Monday, hitting $251.77. 165,962 shares of the company’s stock were exchanged, compared to its average volume of 1,254,224. The firm has a market cap of $56.88 billion, a P/E ratio of 40.43, a P/E/G ratio of 2.48 and a beta of 1.31. The firm has a 50 day moving average of $249.22 and a two-hundred day moving average of $236.79. The company has a quick ratio of 0.54, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a fifty-two week low of $184.62 and a fifty-two week high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $2.65 EPS. Norfolk Southern’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Norfolk Southern Co. will post 11.78 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is 86.96%.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy acquired 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the purchase, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sameh Fahmy bought 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction dated 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. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NSC. Morgan Stanley restated an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a report on Monday, July 8th. Jefferies Financial Group lifted their target price on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein increased their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Stifel Nicolaus lifted their price objective 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. Finally, TD Cowen increased their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $274.16.

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.