ING Groep NV Sells 12,658 Shares of Norfolk Southern Co. (NYSE:NSC)

ING Groep NV decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 41.6% during the third quarter, HoldingsChannel reports. The firm owned 17,742 shares of the railroad operator’s stock after selling 12,658 shares during the period. ING Groep NV’s holdings in Norfolk Southern were worth $4,409,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Highline Wealth Partners LLC purchased a new position in Norfolk Southern during the third quarter valued at approximately $25,000. Cedar Wealth Management LLC purchased a new position in shares of Norfolk Southern in the 1st quarter valued at $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern in the 2nd quarter worth $27,000. Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern during the 2nd quarter worth $31,000. Finally, HWG Holdings LP bought a new stake in Norfolk Southern during the second quarter valued at about $31,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $261.27 on Friday. The company has a 50 day simple moving average of $252.76 and a two-hundred day simple moving average of $238.64. The stock has a market cap of $59.11 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 2.55 and a beta of 1.30. 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 12 month low of $205.70 and a 12 month 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. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.65 earnings per share. As a group, analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced 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. This represents a $5.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is 50.70%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Benchmark boosted their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America boosted their price objective on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Stephens restated an “equal weight” rating and issued a $263.00 target price on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price target on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised their price objective on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 1,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was 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 $8,970,819.10. The trade was a 59.42 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Norfolk Southern 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.