Capital Performance Advisors LLP Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

Capital Performance Advisors LLP purchased a new stake in shares of Norfolk Southern Co. (NYSE:NSC) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 133 shares of the railroad operator’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NSC. Highline Wealth Partners LLC bought a new stake in Norfolk Southern during the 3rd quarter valued at $25,000. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern during the first quarter valued at about $27,000. 1620 Investment Advisors Inc. bought a new position in Norfolk Southern in the 2nd quarter valued at about $27,000. Financial Connections Group Inc. bought a new position in Norfolk Southern in the 2nd quarter valued at about $31,000. Finally, HWG Holdings LP acquired a new position in Norfolk Southern during the 2nd quarter valued at about $31,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of the firm’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 sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Alan H. Shaw sold 51,325 shares of the 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 transaction, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sameh Fahmy acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Down 0.2 %

Shares of NYSE NSC opened at $271.11 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a one year low of $195.76 and a one year high of $277.60. The business has a 50-day moving average price of $251.77 and a two-hundred day moving average price of $237.83. The firm has a market capitalization of $61.34 billion, a PE ratio of 25.77, a PEG ratio of 2.58 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS 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 the consensus estimate of $3.08 billion. During the same period in the previous year, the firm posted $2.65 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. As a group, analysts predict that Norfolk Southern Co. will post 11.81 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 1.99%. Norfolk Southern’s dividend payout ratio is 50.70%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Stephens reiterated an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a report on Wednesday, October 23rd. Loop Capital lifted their price target on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Bank of America upped their price objective on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their target price on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, October 11th. Finally, Sanford C. Bernstein upped their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. One 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 MarketBeat, the company currently 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.