Pine Valley Investments Ltd Liability Co Sells 391 Shares of Norfolk Southern Co. (NYSE:NSC)

Pine Valley Investments Ltd Liability Co lessened its position in Norfolk Southern Co. (NYSE:NSC) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,696 shares of the railroad operator’s stock after selling 391 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Norfolk Southern were worth $1,167,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC boosted its stake in shares of Norfolk Southern by 1.2% in the 3rd quarter. Anchor Investment Management LLC now owns 14,265 shares of the railroad operator’s stock valued at $3,545,000 after purchasing an additional 170 shares in the last quarter. Wealthquest Corp bought a new stake in Norfolk Southern in the third quarter worth $216,000. TD Private Client Wealth LLC boosted its position in Norfolk Southern by 3.0% during the third quarter. TD Private Client Wealth LLC now owns 5,038 shares of the railroad operator’s stock valued at $1,252,000 after buying an additional 146 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of Norfolk Southern by 6.9% during the third quarter. Coldstream Capital Management Inc. now owns 5,556 shares of the railroad operator’s stock valued at $1,388,000 after buying an additional 357 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Norfolk Southern by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after buying an additional 62,186 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, with a total value 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 11.11 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the subject of several analyst reports. Sanford C. Bernstein increased their target price on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Loop Capital increased their price objective on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI decreased their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Stifel Nicolaus increased their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. Finally, Jefferies Financial Group boosted their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern Trading Up 0.4 %

Shares of NYSE NSC opened at $248.31 on Friday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. 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 firm has a 50-day moving average of $259.19 and a 200 day moving average of $243.36. The stock has a market cap of $56.18 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the firm posted $2.65 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.17%. Norfolk Southern’s dividend payout ratio is currently 50.70%.

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.