Greenleaf Trust Cuts Stake in Norfolk Southern Co. (NYSE:NSC)

Greenleaf Trust cut its position in Norfolk Southern Co. (NYSE:NSC) by 2.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,339 shares of the railroad operator’s stock after selling 194 shares during the period. Greenleaf Trust’s holdings in Norfolk Southern were worth $2,072,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NSC. Cedar Wealth Management LLC purchased a new position in Norfolk Southern in the 1st quarter worth approximately $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Norfolk Southern in the 2nd quarter worth $27,000. Financial Connections Group Inc. purchased a new position in shares of Norfolk Southern in the second quarter worth $31,000. HWG Holdings LP bought a new position in shares of Norfolk Southern during the second quarter valued at $31,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Norfolk Southern during the second quarter valued at $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 company’s stock in a transaction on Friday, September 13th. The shares were 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 of the company’s stock, valued at $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 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 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard H. Anderson acquired 2,000 shares of the stock in a transaction dated Monday, July 29th. The stock was bought at an average cost of $247.48 per share, with a total value of $494,960.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at approximately $742,440. The trade was a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Susquehanna boosted their target price on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday. TD Cowen increased their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $263.00 target price on shares of Norfolk Southern in a research report on Wednesday. Bank of America increased their price target on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citigroup lifted their price objective on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $274.16.

Norfolk Southern Stock Down 1.3 %

Shares of NSC stock opened at $256.98 on Thursday. The company’s fifty day simple moving average is $248.76 and its two-hundred day simple moving average is $236.88. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The stock has a market cap of $58.06 billion, a P/E ratio of 41.38, a PEG ratio of 2.33 and a beta of 1.31. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.65 earnings per share. Analysts predict that Norfolk Southern Co. will post 11.79 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.10%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Norfolk Southern Company 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.