Insider Selling: Norfolk Southern Corp. (NSC) EVP Sells $190,364.30 in Stock
Norfolk Southern Corp. (NYSE:NSC) EVP Marta R. Stewart sold 2,023 shares of Norfolk Southern Corp. stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $94.10, for a total transaction of $190,364.30. Following the sale, the executive vice president now directly owns 12,127 shares in the company, valued at approximately $1,141,150.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Norfolk Southern Corp. (NYSE:NSC) opened at 100.50 on Friday. Norfolk Southern Corp. has a 12 month low of $64.51 and a 12 month high of $101.19. The firm has a market capitalization of $29.34 billion, a price-to-earnings ratio of 18.61 and a beta of 1.13. The firm’s 50-day moving average is $94.51 and its 200 day moving average is $90.00.
Norfolk Southern Corp. (NYSE:NSC) last announced its quarterly earnings data on Wednesday, October 26th. The railroad operator reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.10. The company earned $2.52 billion during the quarter, compared to analyst estimates of $2.25 billion. Norfolk Southern Corp. had a net margin of 16.27% and a return on equity of 13.15%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the business earned $1.49 EPS. Equities analysts predict that Norfolk Southern Corp. will post $5.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Friday, November 4th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Wednesday, November 2nd. Norfolk Southern Corp.’s dividend payout ratio (DPR) is presently 43.70%.
Several hedge funds and other institutional investors have recently bought and sold shares of NSC. Bank of Montreal Can acquired a new position in Norfolk Southern Corp. during the second quarter valued at approximately $37,178,000. Skylands Capital LLC raised its position in Norfolk Southern Corp. by 10.2% in the second quarter. Skylands Capital LLC now owns 176,200 shares of the railroad operator’s stock valued at $15,000,000 after buying an additional 16,350 shares during the period. Speece Thorson Capital Group Inc. raised its position in Norfolk Southern Corp. by 11.2% in the second quarter. Speece Thorson Capital Group Inc. now owns 126,476 shares of the railroad operator’s stock valued at $10,767,000 after buying an additional 12,782 shares during the period. Legal & General Group Plc raised its position in Norfolk Southern Corp. by 2.1% in the first quarter. Legal & General Group Plc now owns 1,307,343 shares of the railroad operator’s stock valued at $108,838,000 after buying an additional 26,895 shares during the period. Finally, Reliance Trust Co. of Delaware raised its position in Norfolk Southern Corp. by 0.3% in the second quarter. Reliance Trust Co. of Delaware now owns 16,353 shares of the railroad operator’s stock valued at $1,392,000 after buying an additional 42 shares during the period. 67.97% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on NSC shares. Zacks Investment Research raised shares of Norfolk Southern Corp. from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research report on Friday, October 7th. Citigroup Inc. boosted their target price on Norfolk Southern Corp. from $87.00 to $97.00 and gave the company a “neutral” rating in a research report on Tuesday, September 13th. Aegis began coverage on Norfolk Southern Corp. in a research report on Monday, October 24th. They issued a “hold” rating on the stock. Avondale Partners lowered Norfolk Southern Corp. from a “market perform” rating to an “underperform” rating and set a $64.00 target price on the stock. in a research report on Wednesday, October 12th. Finally, Bank of America Corp. raised Norfolk Southern Corp. from a “neutral” rating to a “buy” rating and boosted their target price for the company from $97.00 to $110.00 in a research report on Tuesday, October 11th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the stock. Norfolk Southern Corp. presently has a consensus rating of “Hold” and an average price target of $92.82.
About Norfolk Southern Corp.
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.
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