MCF Advisors LLC Has $238,000 Holdings in Norfolk Southern Co. (NYSE:NSC)

MCF Advisors LLC lessened its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 4.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 957 shares of the railroad operator’s stock after selling 44 shares during the period. MCF Advisors LLC’s holdings in Norfolk Southern were worth $238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cedar Wealth Management LLC acquired a new stake in Norfolk Southern in the first quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $27,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern in the 2nd quarter valued at approximately $31,000. HWG Holdings LP bought a new stake in shares of Norfolk Southern in the second quarter worth $31,000. Finally, Hobbs Group Advisors LLC bought a new stake in Norfolk Southern during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Evercore ISI cut their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday. TD Cowen upped their price objective on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday. Susquehanna increased their target price on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company raised 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. Finally, Citigroup lifted their price objective on shares of Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern Stock Down 0.9 %

Norfolk Southern stock traded down $2.33 during midday trading on Friday, reaching $251.09. The stock had a trading volume of 1,027,380 shares, compared to its average volume of 1,259,482. The company has a fifty day moving average price of $249.22 and a two-hundred day moving average price of $237.00. The company has a market capitalization of $56.77 billion, a P/E ratio of 23.58, a PEG ratio of 2.48 and a beta of 1.31. The company has a current ratio of 0.73, a quick ratio of 0.54 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 12 month low of $183.76 and a 12 month high of $263.66.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $2.65 earnings per share. As a group, equities analysts expect that Norfolk Southern Co. will post 11.78 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.15%. Norfolk Southern’s payout ratio is 50.70%.

Insiders Place Their Bets

In other news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Sameh Fahmy purchased 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, with a total value 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. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 3,700 shares of company stock valued at $921,565. Corporate insiders own 0.19% of the company’s stock.

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.