Norfolk Southern Co. (NYSE:NSC) Shares Sold by Norris Perne & French LLP MI

Norris Perne & French LLP MI cut its holdings in Norfolk Southern Co. (NYSE:NSC) by 3.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,590 shares of the railroad operator’s stock after selling 100 shares during the period. Norris Perne & French LLP MI’s holdings in Norfolk Southern were worth $660,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NSC. Exchange Traded Concepts LLC increased its position in shares of Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after acquiring an additional 106 shares during the period. Rise Advisors LLC purchased a new stake in shares of Norfolk Southern during the first quarter worth $34,000. Turtle Creek Wealth Advisors LLC purchased a new position in Norfolk Southern in the fourth quarter valued at $32,000. Creative Financial Designs Inc. ADV increased its holdings in Norfolk Southern by 317.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock valued at $35,000 after buying an additional 111 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new position in Norfolk Southern in the fourth quarter valued at $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction on Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Claude Mongeau bought 5,650 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average price of $221.00 per share, for a total transaction of $1,248,650.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $4,420,000. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating and issued a $277.00 target price on shares of Norfolk Southern in a report on Thursday, April 25th. UBS Group decreased their price objective on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Loop Capital upped their price objective on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Susquehanna decreased their price objective on shares of Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada upgraded shares of Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 price objective for the company in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus price target of $262.89.

Norfolk Southern Stock Performance

NYSE NSC traded up $4.79 during trading hours on Friday, hitting $214.69. 1,584,755 shares of the stock were exchanged, compared to its average volume of 1,129,521. The company has a market cap of $48.50 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 1.98 and a beta of 1.31. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The stock has a 50-day moving average of $227.10 and a 200 day moving average of $238.82. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the business posted $3.32 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Norfolk Southern Co. will post 11.88 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.52%. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

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.