Brighton Jones LLC Reduces Position in Norfolk Southern Co. (NYSE:NSC)

Brighton Jones LLC trimmed its stake in Norfolk Southern Co. (NYSE:NSC) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,627 shares of the railroad operator’s stock after selling 85 shares during the period. Brighton Jones LLC’s holdings in Norfolk Southern were worth $404,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC grew its position in shares of Norfolk Southern by 72.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,900 shares of the railroad operator’s stock worth $739,000 after purchasing an additional 1,221 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Norfolk Southern by 6.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,527 shares of the railroad operator’s stock valued at $10,584,000 after buying an additional 2,483 shares during the last quarter. Kathleen S. Wright Associates Inc. lifted its holdings in shares of Norfolk Southern by 69.4% in the first quarter. Kathleen S. Wright Associates Inc. now owns 615 shares of the railroad operator’s stock worth $157,000 after buying an additional 252 shares in the last quarter. CRA Financial Services LLC bought a new position in shares of Norfolk Southern during the first quarter worth $207,000. Finally, River Street Advisors LLC grew its stake in Norfolk Southern by 2.5% during the first quarter. River Street Advisors LLC now owns 3,681 shares of the railroad operator’s stock valued at $938,000 after acquiring an additional 90 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Performance

Shares of NSC opened at $251.09 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.54 and a current ratio of 0.73. The stock has a 50-day moving average of $249.01 and a two-hundred day moving average of $236.99. The stock has a market cap of $56.77 billion, a P/E ratio of 23.58, a P/E/G ratio of 2.48 and a beta of 1.31. Norfolk Southern Co. has a one year low of $183.76 and a one year high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.65 earnings per share. As a group, research analysts predict that Norfolk Southern Co. will post 11.78 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.15%. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Benchmark raised their price objective on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group lifted their price objective on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup increased their target price on Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a research report on Tuesday. Evercore ISI reduced their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

Insider Transactions at Norfolk Southern

In other news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction dated 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 of the company’s stock, valued at $371,077.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction that occurred on 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 approximately $371,077.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sameh Fahmy bought 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, for a total transaction 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 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 3,700 shares of company stock valued at $921,565 in the last 90 days. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Company 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.