Commonwealth Retirement Investments LLC Lowers Stock Position in Norfolk Southern Co. (NYSE:NSC)

Commonwealth Retirement Investments LLC lowered its stake in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 8.6% during the third quarter, Holdings Channel reports. The firm owned 1,789 shares of the railroad operator’s stock after selling 169 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Norfolk Southern were worth $445,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Lake Street Advisors Group LLC increased its holdings in Norfolk Southern by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after buying an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. increased its stake in shares of Norfolk Southern by 2.8% in the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after acquiring an additional 42 shares during the last quarter. Blue Chip Partners LLC boosted its holdings in Norfolk Southern by 0.5% in the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock worth $1,656,000 after purchasing an additional 42 shares in the last quarter. Stephens Consulting LLC boosted its holdings in Norfolk Southern by 12.4% during the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after acquiring an additional 42 shares during the period. Finally, Foster Victor Wealth Advisors LLC grew its position in Norfolk Southern by 4.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after buying an additional 42 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NSC has been the subject of a number of analyst reports. Benchmark lifted their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus upped their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, October 11th. UBS Group raised their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Loop Capital raised their price target on shares of Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Susquehanna lifted their price objective on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average target price of $274.16.

View Our Latest Research Report on Norfolk Southern

Norfolk Southern Stock Down 1.0 %

NSC traded down $2.66 during midday trading on Tuesday, hitting $268.45. The company had a trading volume of 197,064 shares, compared to its average volume of 1,254,693. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The stock’s 50 day moving average price is $252.07 and its 200 day moving average price is $238.05. The company has a market capitalization of $60.73 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 2.58 and a beta of 1.30. Norfolk Southern Co. has a 52 week low of $195.76 and a 52 week high of $277.60.

Norfolk Southern (NYSE:NSCGet Free Report) last announced its quarterly earnings data 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. The company 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%. Norfolk Southern’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $2.65 EPS. On average, research analysts anticipate that Norfolk Southern Co. will post 11.81 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was bought 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 directly owns 10,000 shares in the company, valued at $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern 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 transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sameh Fahmy purchased 1,000 shares of the business’s stock in a transaction dated 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 purchase, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

About Norfolk Southern

(Free Report)

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.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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