W.G. Shaheen & Associates DBA Whitney & Co Sells 12,501 Shares of Norfolk Southern Corporation $NSC

W.G. Shaheen & Associates DBA Whitney & Co reduced its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 34.1% in the third quarter, HoldingsChannel.com reports. The fund owned 24,143 shares of the railroad operator’s stock after selling 12,501 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Norfolk Southern were worth $7,253,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NSC. NEOS Investment Management LLC grew its stake in Norfolk Southern by 47.0% during the third quarter. NEOS Investment Management LLC now owns 25,298 shares of the railroad operator’s stock worth $7,600,000 after purchasing an additional 8,090 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in shares of Norfolk Southern by 44.8% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 3,710 shares of the railroad operator’s stock worth $1,115,000 after buying an additional 1,147 shares in the last quarter. Founders Financial Alliance LLC bought a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $223,000. Mondrian Investment Partners LTD acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $69,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Norfolk Southern by 10.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 49,965 shares of the railroad operator’s stock valued at $15,010,000 after acquiring an additional 4,533 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Norfolk Southern

In other news, Director William Jr. Clyburn acquired 204 shares of the business’s stock in a transaction on Friday, December 5th. The shares were purchased at an average cost of $294.79 per share, with a total value of $60,137.16. Following the acquisition, the director directly owned 405 shares of the company’s stock, valued at $119,389.95. The trade was a 101.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anil Bhatt sold 900 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total transaction of $253,440.00. Following the completion of the sale, the executive vice president owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. The trade was a 38.91% decrease in their position. The SEC filing for this sale provides additional information. 0.06% of the stock is currently owned by company insiders.

Norfolk Southern Price Performance

NSC stock opened at $315.13 on Tuesday. The company has a market capitalization of $70.77 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 5.60 and a beta of 1.34. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $319.94. The business has a 50-day simple moving average of $294.22 and a two-hundred day simple moving average of $288.32.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping the consensus estimate of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the business posted $3.04 earnings per share. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is 42.35%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Evercore raised their target price on Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. Susquehanna upped their price target on Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. UBS Group lowered Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price target on the stock. in a report on Friday, February 6th. Finally, Morgan Stanley upgraded Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $304.47.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.