Norfolk Southern Co. (NYSE:NSC) Shares Sold by CVA Family Office LLC

CVA Family Office LLC decreased its position in Norfolk Southern Co. (NYSE:NSC) by 77.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 258 shares of the railroad operator’s stock after selling 869 shares during the quarter. CVA Family Office LLC’s holdings in Norfolk Southern were worth $64,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NSC. Cedar Wealth Management LLC acquired a new position in Norfolk Southern during the 1st quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern during the second quarter worth about $27,000. Financial Connections Group Inc. purchased a new position in shares of Norfolk Southern in the second quarter valued at approximately $31,000. HWG Holdings LP purchased a new stake in Norfolk Southern during the 2nd quarter worth approximately $31,000. Finally, Rise Advisors LLC acquired a new stake in Norfolk Southern during the 1st quarter worth approximately $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 1.7 %

Shares of Norfolk Southern stock opened at $250.17 on Monday. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The company has a market cap of $56.52 billion, a P/E ratio of 40.29, a PEG ratio of 2.33 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The firm has a fifty day moving average of $246.64 and a two-hundred day moving average of $236.66.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the company posted $2.95 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts forecast that Norfolk Southern Co. will post 11.79 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.16%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the transaction, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sameh Fahmy purchased 700 shares of the stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Stifel Nicolaus increased their target price on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday. Evercore ISI lifted their price target on Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. TD Cowen increased their price objective on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Sanford C. Bernstein increased their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.17.

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.