Gulf International Bank UK Ltd Reduces Stake in Norfolk Southern Co. (NYSE:NSC)

Gulf International Bank UK Ltd decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,204 shares of the railroad operator’s stock after selling 789 shares during the period. Gulf International Bank UK Ltd’s holdings in Norfolk Southern were worth $4,275,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NSC. Highline Wealth Partners LLC purchased a new position in Norfolk Southern during the third quarter worth $25,000. Cedar Wealth Management LLC purchased a new position in Norfolk Southern during the first quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern during the second quarter worth $27,000. Financial Connections Group Inc. purchased a new position in Norfolk Southern during the second quarter worth $31,000. Finally, HWG Holdings LP purchased a new position in Norfolk Southern during the second quarter worth $31,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sameh Fahmy acquired 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NSC shares. Loop Capital raised their price objective on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Evercore ISI decreased their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Stephens restated an “equal weight” rating and set a $263.00 price objective on shares of Norfolk Southern in a 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Trading Up 1.8 %

Shares of NSC opened at $252.17 on Wednesday. The stock’s 50-day moving average is $250.55 and its two-hundred day moving average is $237.17. The stock has a market cap of $57.05 billion, a PE ratio of 23.68, a P/E/G ratio of 2.37 and a beta of 1.30. Norfolk Southern Co. has a 12 month low of $192.53 and a 12 month high of $263.66. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (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 business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company earned $2.65 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s payout ratio is 50.70%.

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.