Norfolk Southern Co. (NYSE:NSC) Position Increased by Coastwise Capital Group LLC

Coastwise Capital Group LLC grew its position in shares of Norfolk Southern Co. (NYSE:NSC) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,264 shares of the railroad operator’s stock after buying an additional 54 shares during the quarter. Coastwise Capital Group LLC’s holdings in Norfolk Southern were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in NSC. Highline Wealth Partners LLC bought a new stake in Norfolk Southern in the third quarter worth $25,000. 1620 Investment Advisors Inc. acquired a new stake in Norfolk Southern in the 2nd quarter worth approximately $27,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern during the second quarter worth approximately $31,000. HWG Holdings LP acquired a new position in Norfolk Southern during the second quarter valued at approximately $31,000. Finally, Coastline Trust Co acquired a new stake in shares of Norfolk Southern in the third quarter worth $32,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.2 %

NYSE NSC opened at $275.85 on Monday. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year 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 stock’s 50 day moving average is $256.63 and its two-hundred day moving average is $241.57. The company has a market capitalization of $62.41 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 2.62 and a beta of 1.30.

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

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 1.96%. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI lowered their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Benchmark raised their target price on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays raised their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Insiders Place Their Bets

In related news, CEO Alan H. Shaw sold 51,325 shares of the company’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 transaction, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 59.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sameh Fahmy acquired 1,000 shares of the stock in a transaction on Thursday, October 24th. The stock was bought at an average price of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This represents a 11.11 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

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.