Norfolk Southern Co. (NYSE:NSC) Shares Bought by United Bank

United Bank lifted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 2.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,875 shares of the railroad operator’s stock after buying an additional 204 shares during the period. United Bank’s holdings in Norfolk Southern were worth $2,205,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NSC. CWA Asset Management Group LLC purchased a new stake in shares of Norfolk Southern in the third quarter worth about $310,000. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in Norfolk Southern by 0.9% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 76,225 shares of the railroad operator’s stock worth $18,938,000 after acquiring an additional 701 shares during the period. Burt Wealth Advisors acquired a new stake in Norfolk Southern in the third quarter valued at approximately $227,000. Capital Performance Advisors LLP purchased a new stake in shares of Norfolk Southern during the third quarter valued at approximately $33,000. Finally, Hudson Value Partners LLC acquired a new position in shares of Norfolk Southern during the third quarter worth $211,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Norfolk Southern

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

Wall Street Analyst Weigh In

NSC has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of 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 lifted their target price on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Barclays boosted their price target on Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Evercore ISI dropped their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Stephens reiterated an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a research note on Wednesday, October 23rd. 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 currently has an average rating of “Moderate Buy” and an average target price of $274.16.

Norfolk Southern Stock Performance

Shares of NSC opened at $271.68 on Friday. The firm has a fifty day moving average of $251.77 and a 200-day moving average of $237.87. The company has a market cap of $61.46 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 2.63 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern Co. has a 1 year low of $193.15 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (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 during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the business posted $2.65 EPS. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts anticipate that Norfolk Southern Co. will post 11.81 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm 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 $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is 50.70%.

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.