Biltmore Family Office LLC Lowers Stock Position in Norfolk Southern Co. (NYSE:NSC)

Biltmore Family Office LLC trimmed its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 24.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,076 shares of the railroad operator’s stock after selling 343 shares during the quarter. Biltmore Family Office LLC’s holdings in Norfolk Southern were worth $267,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NSC. Lake Street Advisors Group LLC raised its stake in Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after purchasing an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. grew its stake in Norfolk Southern by 2.8% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after acquiring an additional 42 shares in the last quarter. Blue Chip Partners LLC raised its holdings in Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after acquiring an additional 42 shares during the last quarter. Stephens Consulting LLC lifted its stake in Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after purchasing an additional 42 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its position in shares of Norfolk Southern by 4.2% in the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. 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. UBS Group increased their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Loop Capital increased their price objective on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays upped their price target on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. 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 report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $275.68.

Norfolk Southern Price Performance

NSC stock opened at $264.29 on Friday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The firm has a market capitalization of $59.79 billion, a P/E ratio of 24.82, a P/E/G ratio of 2.46 and a beta of 1.30. 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 business’s 50-day moving average is $253.44 and its two-hundred day moving average is $239.58.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $3.08 billion. During the same period in the previous year, the company earned $2.65 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders 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 annualized dividend and a yield of 2.04%. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction dated Thursday, October 24th. The stock was acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’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 value of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 59.42 % decrease in their position. The disclosure for this sale can be found here. 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.