Norfolk Southern Co. (NYSE:NSC) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC trimmed its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 15.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,661 shares of the railroad operator’s stock after selling 2,760 shares during the period. Mizuho Securities USA LLC’s holdings in Norfolk Southern were worth $3,643,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Lake Street Advisors Group LLC increased its stake in shares of Norfolk Southern by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after purchasing an additional 41 shares in the last quarter. Hall Capital Management Co. Inc. boosted its holdings in Norfolk Southern by 2.8% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after buying an additional 42 shares during the last quarter. Blue Chip Partners LLC increased its stake in Norfolk Southern by 0.5% during the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock worth $1,656,000 after buying an additional 42 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of Norfolk Southern by 12.4% during the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after acquiring an additional 42 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its position in shares of Norfolk Southern by 4.2% in the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after acquiring an additional 42 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $264.29 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The stock has a market capitalization of $59.79 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. The business has a 50-day moving average of $253.44 and a 200 day moving average of $239.58. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping the consensus estimate 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 prior year, the firm earned $2.65 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.04%. Norfolk Southern’s dividend payout ratio (DPR) is 50.70%.

Insider Buying and Selling at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s 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 completion of 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 59.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sameh Fahmy purchased 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was acquired at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. This represents a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NSC shares. Sanford C. Bernstein upped their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. UBS Group boosted their target price on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. TD Cowen increased their price target on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Susquehanna upped their target price on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI reduced their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. One investment 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $275.68.

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.