Norfolk Southern Co. (NYSE:NSC) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. reduced its position in shares of Norfolk Southern Co. (NYSE:NSC) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,535 shares of the railroad operator’s stock after selling 246 shares during the period. Wesbanco Bank Inc.’s holdings in Norfolk Southern were worth $1,618,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NSC. Raleigh Capital Management Inc. raised its holdings in shares of Norfolk Southern by 4.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock worth $226,000 after purchasing an additional 40 shares during the period. MCF Advisors LLC lifted its holdings in Norfolk Southern by 4.2% in the fourth quarter. MCF Advisors LLC now owns 1,016 shares of the railroad operator’s stock worth $240,000 after acquiring an additional 41 shares during the last quarter. Fiduciary Group LLC boosted its stake in Norfolk Southern by 0.4% in the fourth quarter. Fiduciary Group LLC now owns 9,986 shares of the railroad operator’s stock valued at $2,360,000 after acquiring an additional 41 shares during the period. ZWJ Investment Counsel Inc. grew its holdings in shares of Norfolk Southern by 0.6% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 7,456 shares of the railroad operator’s stock valued at $1,762,000 after purchasing an additional 43 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its position in shares of Norfolk Southern by 2.6% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock worth $397,000 after purchasing an additional 43 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $245.15 per share, with a total value of $171,605.00. Following the purchase, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 10,350 shares of company stock worth $2,353,715. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NSC. TD Cowen upped their price objective on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Barclays cut their price objective on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. UBS Group dropped their price target on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Loop Capital boosted their price objective on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Wells Fargo & Company raised their target price on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $264.24.

Norfolk Southern Price Performance

NYSE:NSC opened at $242.00 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The business’s 50-day moving average price is $226.11 and its 200 day moving average price is $238.43. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The firm has a market cap of $54.67 billion, a P/E ratio of 38.97, a PEG ratio of 2.41 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the firm posted $2.95 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Norfolk Southern Co. will post 11.78 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.23%. 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.