Neville Rodie & Shaw Inc. Cuts Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Neville Rodie & Shaw Inc. trimmed its position in shares of Norfolk Southern Co. (NYSE:NSC) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,690 shares of the railroad operator’s stock after selling 820 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Norfolk Southern were worth $11,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of NSC. Cedar Wealth Management LLC purchased a new position in Norfolk Southern during the 1st quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern during the 2nd quarter worth $27,000. Financial Connections Group Inc. purchased a new position in Norfolk Southern during the 2nd quarter worth $31,000. HWG Holdings LP purchased a new position in shares of Norfolk Southern in the 2nd quarter worth about $31,000. Finally, Rise Advisors LLC purchased a new position in shares of Norfolk Southern in the 1st quarter worth about $34,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NSC shares. Sanford C. Bernstein cut their price target on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Benchmark boosted 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. Susquehanna boosted their price target on shares of Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada boosted their price target on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Wells Fargo & Company upped their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average target price of $266.56.

Insider Buying and Selling

In related news, EVP Nabanita C. Nag sold 355 shares of the company’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 value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Sameh Fahmy bought 700 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $245.15 per share, with a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Norfolk Southern Trading Down 0.4 %

Shares of NSC opened at $247.03 on Thursday. The business’s 50-day moving average price is $246.35 and its 200-day moving average price is $237.19. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The stock has a market cap of $55.81 billion, a PE ratio of 39.78, a P/E/G ratio of 2.40 and a beta of 1.31. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC) last posted 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. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. Norfolk Southern’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.95 earnings per share. On average, equities analysts forecast that Norfolk Southern Co. will post 11.8 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

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.