2,436 Shares in Norfolk Southern Co. (NYSE:NSC) Acquired by DRW Securities LLC

DRW Securities LLC purchased a new stake in Norfolk Southern Co. (NYSE:NSC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,436 shares of the railroad operator’s stock, valued at approximately $605,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in shares of Norfolk Southern during the 3rd quarter valued at $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of Norfolk Southern during the second quarter valued at about $27,000. Coastline Trust Co bought a new position in shares of Norfolk Southern during the 3rd quarter worth about $32,000. Capital Performance Advisors LLP acquired a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $33,000. Finally, Financial Connections Group Inc. bought a new stake in Norfolk Southern in the 2nd quarter valued at about $31,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $276.11 on Wednesday. The business’s 50 day simple moving average is $255.08 and its 200 day simple moving average is $240.63. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The company has a market cap of $62.47 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 2.55 and a beta of 1.30. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating 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 firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were paid a $1.35 dividend. The ex-dividend date was Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 1.96%. Norfolk Southern’s payout ratio is 50.70%.

Insider Activity

In related news, Director Sameh Fahmy acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $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.

Analysts Set New Price Targets

A number of brokerages have commented on NSC. Wells Fargo & Company raised their price objective on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Bank of America raised their price objective on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI decreased their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group raised their price target on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.