Nisa Investment Advisors LLC Has $22.50 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Nisa Investment Advisors LLC trimmed its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 90,547 shares of the railroad operator’s stock after selling 1,194 shares during the period. Nisa Investment Advisors LLC’s holdings in Norfolk Southern were worth $22,501,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Cedar Wealth Management LLC bought a new stake in Norfolk Southern during the first quarter worth approximately $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $27,000. Financial Connections Group Inc. bought a new position in shares of Norfolk Southern in the second quarter worth about $31,000. HWG Holdings LP bought a new stake in Norfolk Southern during the 2nd quarter valued at approximately $31,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Norfolk Southern in the 2nd quarter valued at approximately $34,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Down 0.5 %

Shares of NYSE NSC opened at $252.41 on Wednesday. Norfolk Southern Co. has a 1-year low of $184.62 and a 1-year high of $263.66. The company has a 50-day moving average of $249.70 and a two-hundred day moving average of $236.87. The company has a market cap of $57.11 billion, a PE ratio of 23.70, a P/E/G ratio of 2.38 and a beta of 1.31. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the business earned $2.65 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts expect 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 will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.14%. Norfolk Southern’s dividend payout ratio is 50.70%.

Wall Street Analyst Weigh In

NSC has been the subject of several research reports. Susquehanna increased their price objective on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Benchmark upped their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus lifted their target price on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. Morgan Stanley reaffirmed an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a report on Monday, July 8th. Finally, Stephens reaffirmed an “equal weight” rating and set a $263.00 price objective on shares of Norfolk Southern in a report on Wednesday, October 23rd. 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. According to MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $274.16.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy purchased 700 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares in the company, valued at $1,887,655. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sameh Fahmy acquired 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $245.15 per share, with a total value of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

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.