M&R Capital Management Inc. Reduces Stake in Norfolk Southern Co. (NYSE:NSC)

M&R Capital Management Inc. decreased its stake in Norfolk Southern Co. (NYSE:NSC) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,289 shares of the railroad operator’s stock after selling 210 shares during the quarter. Norfolk Southern comprises 1.1% of M&R Capital Management Inc.’s portfolio, making the stock its 25th biggest holding. M&R Capital Management Inc.’s holdings in Norfolk Southern were worth $4,793,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Cedar Wealth Management LLC purchased a new position in shares of Norfolk Southern during the 1st quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Norfolk Southern during the second quarter worth $27,000. Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern during the second quarter valued at $31,000. HWG Holdings LP purchased a new position in Norfolk Southern in the 2nd quarter worth about $31,000. Finally, Rise Advisors LLC bought a new stake in Norfolk Southern during the 1st quarter valued at about $34,000. Institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In other Norfolk Southern news, Director Sameh Fahmy purchased 700 shares of the stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, with a total value of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares in the company, valued at $1,887,655. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction 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 sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sameh Fahmy bought 700 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the transaction, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $247.03 on Thursday. 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 $55.81 billion, a PE ratio of 39.78, a PEG ratio of 2.40 and a beta of 1.31. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The business’s fifty day simple moving average is $246.35 and its 200-day simple moving average is $237.19.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS 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 during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm posted $2.95 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts expect that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.19%. Norfolk Southern’s payout ratio is currently 86.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NSC shares. Evercore ISI upped their target price on shares of Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Wells Fargo & Company increased their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. TD Cowen lifted their target price on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Sanford C. Bernstein dropped their price target on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Finally, 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 research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $266.56.

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.