Norfolk Southern Corporation $NSC Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 62.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,557 shares of the railroad operator’s stock after selling 2,551 shares during the period. TD Private Client Wealth LLC’s holdings in Norfolk Southern were worth $468,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Norfolk Southern by 1.2% in the second quarter. Vanguard Group Inc. now owns 20,561,273 shares of the railroad operator’s stock valued at $5,263,069,000 after purchasing an additional 239,914 shares in the last quarter. Dodge & Cox raised its holdings in shares of Norfolk Southern by 1.8% during the second quarter. Dodge & Cox now owns 10,859,121 shares of the railroad operator’s stock worth $2,779,609,000 after acquiring an additional 192,567 shares in the last quarter. Geode Capital Management LLC boosted its position in Norfolk Southern by 0.8% during the second quarter. Geode Capital Management LLC now owns 4,822,075 shares of the railroad operator’s stock valued at $1,228,064,000 after purchasing an additional 36,362 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in Norfolk Southern by 4.6% in the second quarter. EdgePoint Investment Group Inc. now owns 4,182,921 shares of the railroad operator’s stock valued at $1,070,702,000 after purchasing an additional 184,586 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Norfolk Southern by 6.5% in the 2nd quarter. Lazard Asset Management LLC now owns 3,289,431 shares of the railroad operator’s stock valued at $841,994,000 after buying an additional 201,861 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of recent research reports. Citigroup upped their price objective on shares of Norfolk Southern from $307.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $354.00 to $297.00 in a report on Thursday, December 11th. Evercore ISI boosted their target price on shares of Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Monday, October 27th. Finally, Zacks Research lowered Norfolk Southern from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 19th. Eight research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $303.52.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $290.09 on Friday. The stock has a market capitalization of $65.09 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 5.09 and a beta of 1.33. The business’s fifty day moving average price is $289.61 and its two-hundred day moving average price is $283.89. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $302.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78.

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

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Friday, November 7th were given a dividend of $1.35 per share. The ex-dividend date was Friday, November 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern’s payout ratio is currently 41.19%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director William Jr. Clyburn purchased 204 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average cost of $294.79 per share, with a total value of $60,137.16. Following the completion of the purchase, the director directly owned 405 shares in the company, valued at approximately $119,389.95. This represents a 101.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sameh Fahmy acquired 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average cost of $282.97 per share, with a total value of $466,900.50. Following the completion of the purchase, the director owned 12,000 shares of the company’s stock, valued at $3,395,640. This trade represents a 15.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 4,454 shares of company stock worth $1,259,874 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.