Citizens Financial Group Inc. RI Reduces Position in Norfolk Southern Co. (NYSE:NSC)

Citizens Financial Group Inc. RI lessened its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,538 shares of the railroad operator’s stock after selling 70 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Norfolk Southern were worth $1,128,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Highline Wealth Partners LLC purchased a new position in Norfolk Southern in the 3rd quarter valued at approximately $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of Norfolk Southern in the second quarter valued at $27,000. Financial Connections Group Inc. bought a new stake in shares of Norfolk Southern during the 2nd quarter valued at $31,000. HWG Holdings LP purchased a new stake in Norfolk Southern during the 2nd quarter worth about $31,000. Finally, Coastline Trust Co purchased a new position in Norfolk Southern during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy acquired 1,000 shares of Norfolk Southern stock in a transaction 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 in the company, valued at $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated 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 sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 59.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $268.95 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The company has a fifty day moving average of $253.90 and a 200-day moving average of $239.85. The stock has a market capitalization of $60.85 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the business posted $2.65 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of recent analyst reports. Stephens reissued an “equal weight” rating and issued a $263.00 price target on shares of Norfolk Southern in a report on Wednesday, October 23rd. Jefferies Financial Group increased their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Stifel Nicolaus boosted 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. Sanford C. Bernstein increased their price objective on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Finally, Bank of America boosted their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.68.

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.