Factorial Partners LLC Sells 400 Shares of Norfolk Southern Corporation $NSC

Factorial Partners LLC lessened its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,670 shares of the railroad operator’s stock after selling 400 shares during the quarter. Factorial Partners LLC’s holdings in Norfolk Southern were worth $939,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC lifted its position in Norfolk Southern by 423.8% during the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. WPG Advisers LLC bought a new position in shares of Norfolk Southern in the 1st quarter worth $27,000. NewSquare Capital LLC raised its position in shares of Norfolk Southern by 58.5% during the 2nd quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Norfolk Southern during the 2nd quarter worth $35,000. Finally, Pinnacle Bancorp Inc. grew its position in Norfolk Southern by 30.5% in the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after acquiring an additional 43 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Down 0.7%

Shares of NSC opened at $281.87 on Tuesday. The firm has a fifty day simple moving average of $286.96 and a two-hundred day simple moving average of $270.23. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24. The stock has a market capitalization of $63.25 billion, a P/E ratio of 21.50, a PEG ratio of 2.52 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.01). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period last year, the company posted $3.25 earnings per share. The business’s revenue was up .0% on a year-over-year basis. On average, research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, November 7th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s payout ratio is presently 41.19%.

Insider Activity at Norfolk Southern

In related news, Director Richard H. Anderson purchased 2,600 shares of Norfolk Southern stock in a transaction dated Monday, October 27th. The stock was purchased at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the acquisition, the director directly owned 7,000 shares of the company’s stock, valued at $1,973,020. The trade was a 59.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sameh Fahmy acquired 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average price of $282.97 per share, with a total value of $466,900.50. Following the completion of the acquisition, the director owned 12,000 shares in the company, valued at $3,395,640. The trade was a 15.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NSC. Barclays upped their price objective on Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Monday, October 27th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $288.00 to $303.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Finally, Loop Capital raised their price objective on Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research note on Tuesday, September 16th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $301.10.

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.