Fiduciary Trust Co Sells 59 Shares of Norfolk Southern Co. (NYSE:NSC)

Fiduciary Trust Co decreased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 0.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,484 shares of the railroad operator’s stock after selling 59 shares during the period. Fiduciary Trust Co’s holdings in Norfolk Southern were worth $3,102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Norfolk Southern by 20.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after buying an additional 2,453 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Norfolk Southern by 0.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after buying an additional 3,621 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Norfolk Southern by 25,181.8% during the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after buying an additional 889,925 shares during the last quarter. Seven Eight Capital LP purchased a new position in Norfolk Southern in the second quarter worth $1,676,000. Finally, Dakota Wealth Management boosted its position in Norfolk Southern by 2.1% in the third quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Insider Activity

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 59.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sameh Fahmy bought 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were acquired 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 of the company’s stock, valued at approximately $2,550,000. The trade was a 11.11 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC opened at $275.38 on Friday. The company has a market cap of $62.30 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 2.61 and a beta of 1.30. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The business’s fifty day simple moving average is $256.07 and its two-hundred day simple moving average is $241.11.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the business earned $2.65 earnings per share. Norfolk Southern’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were given 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%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NSC shares. Royal Bank of Canada boosted their price objective on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. Citigroup boosted their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Barclays boosted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern 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.