Norfolk Southern Co. (NYSE:NSC) Shares Sold by HM Payson & Co.

HM Payson & Co. cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 59.0% during the third quarter, Holdings Channel reports. The firm owned 15,146 shares of the railroad operator’s stock after selling 21,783 shares during the quarter. HM Payson & Co.’s holdings in Norfolk Southern were worth $3,764,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Highline Wealth Partners LLC acquired a new position in Norfolk Southern in the 3rd quarter worth approximately $25,000. Cedar Wealth Management LLC purchased a new position in shares of Norfolk Southern during the first quarter valued at $27,000. 1620 Investment Advisors Inc. acquired a new position in Norfolk Southern during the second quarter valued at $27,000. Financial Connections Group Inc. acquired a new position in Norfolk Southern during the second quarter valued at $31,000. Finally, HWG Holdings LP purchased a new stake in Norfolk Southern in the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NYSE:NSC traded up $0.25 during mid-day trading on Thursday, hitting $252.99. The company’s stock had a trading volume of 14,765 shares, compared to its average volume of 1,249,443. The company has a market capitalization of $57.24 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 2.38 and a beta of 1.31. 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 fifty-two week low of $187.75 and a fifty-two week high of $263.66. The stock has a fifty day moving average of $249.93 and a 200-day moving average of $236.98.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate of $3.11 by $0.14. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate 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 was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $2.65 EPS. As a group, equities analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.13%. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Insider Buying and Selling

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 shares were 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 directly 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 SEC, which is accessible through this hyperlink. In other news, Director Sameh Fahmy acquired 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated 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 approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NSC shares. Citigroup upped their target price on Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company increased their target price on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Susquehanna boosted their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Evercore ISI cut their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada upped their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.