OLD National Bancorp IN Acquires 50 Shares of Norfolk Southern Co. (NYSE:NSC)

OLD National Bancorp IN lifted its position in Norfolk Southern Co. (NYSE:NSC) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,165 shares of the railroad operator’s stock after purchasing an additional 50 shares during the quarter. OLD National Bancorp IN’s holdings in Norfolk Southern were worth $1,035,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Cedar Wealth Management LLC bought a new position in shares of Norfolk Southern in the 1st quarter valued at about $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern in the 2nd quarter valued at about $27,000. Financial Connections Group Inc. bought a new position in shares of Norfolk Southern in the 2nd quarter valued at about $31,000. HWG Holdings LP bought a new position in shares of Norfolk Southern in the 2nd quarter valued at about $31,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Norfolk Southern in the 2nd quarter valued at about $34,000. Institutional investors own 75.10% of the company’s stock.

Insider Activity at Norfolk Southern

In related news, 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 value of $13,138,173.50. Following the completion of the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Norfolk Southern news, 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 completion of the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Norfolk Southern Trading Down 1.7 %

Shares of Norfolk Southern stock opened at $248.16 on Tuesday. The firm has a 50-day moving average of $248.04 and a 200-day moving average of $236.66. The stock has a market cap of $56.06 billion, a PE ratio of 39.96, a PEG ratio of 2.33 and a beta of 1.31. 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 quick ratio of 0.54 and a current ratio of 0.63.

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

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NSC shares. Royal Bank of Canada lifted their price objective on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Sanford C. Bernstein lifted their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. TD Cowen lifted their price objective on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Citigroup started coverage on shares of Norfolk Southern in a research note on Wednesday, October 9th. They set a “buy” rating and a $294.00 price objective on the stock. Finally, Morgan Stanley reissued an “underweight” rating and set a $175.00 price objective on shares of Norfolk Southern in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average target price of $266.17.

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.