Norfolk Southern Co. (NYSE:NSC) Holdings Lowered by Sanders Morris Harris LLC

Sanders Morris Harris LLC lowered its holdings in Norfolk Southern Co. (NYSE:NSC) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,185 shares of the railroad operator’s stock after selling 45 shares during the period. Sanders Morris Harris LLC’s holdings in Norfolk Southern were worth $294,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Seven Eight Capital LP acquired a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $1,676,000. Manning & Napier Advisors LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $13,627,000. Buckingham Strategic Wealth LLC increased its position in shares of Norfolk Southern by 7.0% in the fourth quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock worth $22,783,000 after acquiring an additional 6,306 shares in the last quarter. Broderick Brian C purchased a new position in shares of Norfolk Southern in the first quarter worth approximately $956,000. Finally, OFI Invest Asset Management purchased a new position in shares of Norfolk Southern in the second quarter worth approximately $846,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insiders Place Their Bets

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Sameh Fahmy purchased 700 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the purchase, the director now directly owns 7,700 shares in the company, valued at $1,887,655. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Up 0.8 %

Shares of NYSE NSC opened at $245.16 on Thursday. The firm has a market capitalization of $55.39 billion, a PE ratio of 39.48, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66. The firm’s 50-day moving average is $246.51 and its 200-day moving average is $236.76.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share 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 business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the firm earned $2.95 EPS. Norfolk Southern’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.20%. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Susquehanna lifted their target price on shares of Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Evercore ISI raised their price target on shares of Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Benchmark raised their price target on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company lifted their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Citigroup began coverage on shares of Norfolk Southern in a research note on Wednesday. They issued a “buy” rating and a $294.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $267.06.

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.