Norfolk Southern Co. (NYSE:NSC) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC decreased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,307 shares of the railroad operator’s stock after selling 43 shares during the quarter. Procyon Advisors LLC’s holdings in Norfolk Southern were worth $573,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Seven Eight Capital LP acquired a new position in shares of Norfolk Southern during the second quarter valued at $1,676,000. Manning & Napier Advisors LLC acquired a new stake in Norfolk Southern in the second quarter worth about $13,627,000. Broderick Brian C acquired a new stake in Norfolk Southern in the first quarter worth about $956,000. OFI Invest Asset Management acquired a new stake in Norfolk Southern in the second quarter worth about $846,000. Finally, Hoxton Planning & Management LLC acquired a new stake in Norfolk Southern in the third quarter worth about $583,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated 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 transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Norfolk Southern news, Director Richard H. Anderson bought 2,000 shares of the stock in a transaction on Monday, July 29th. The shares were bought at an average price of $247.48 per share, with a total value of $494,960.00. Following the purchase, the director now directly owns 3,000 shares in the company, valued at $742,440. The trade was a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NSC. Jefferies Financial Group upped their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Susquehanna upped their price objective on shares of Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Benchmark upped their price objective 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 upped their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, TD Cowen boosted their price target on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.17.

Norfolk Southern Price Performance

NYSE NSC opened at $254.33 on Wednesday. The stock’s 50-day moving average price is $247.13 and its two-hundred day moving average price is $236.65. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The company has a market cap of $57.46 billion, a PE ratio of 40.95, a PEG ratio of 2.33 and a beta of 1.31. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data 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. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 EPS. On average, analysts predict that Norfolk Southern Co. will post 11.79 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders 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 annualized dividend and a yield of 2.12%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

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.