Global Retirement Partners LLC Sells 525 Shares of Norfolk Southern Co. (NYSE:NSC)

Global Retirement Partners LLC reduced its position in shares of Norfolk Southern Co. (NYSE:NSC) by 21.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,947 shares of the railroad operator’s stock after selling 525 shares during the quarter. Global Retirement Partners LLC’s holdings in Norfolk Southern were worth $484,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC purchased a new position in Norfolk Southern during the 1st quarter valued at $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern during the 2nd quarter valued at $27,000. Financial Connections Group Inc. purchased a new position in Norfolk Southern during the 2nd quarter valued at $31,000. HWG Holdings LP purchased a new position in Norfolk Southern during the 2nd quarter valued at $31,000. Finally, Hobbs Group Advisors LLC purchased a new position in Norfolk Southern during the 2nd quarter valued at $34,000. 75.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were 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 in the company, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Nabanita C. Nag sold 355 shares of the 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 owns 1,488 shares in the company, valued at $371,077.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents 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.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $248.16 on Tuesday. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The company’s 50-day moving average is $248.04 and its 200 day moving average is $236.66. The company has a market capitalization of $56.06 billion, a price-to-earnings ratio of 39.96, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.20. The business 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%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.95 EPS. Sell-side analysts expect that Norfolk Southern Co. will post 11.79 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NSC shares. Citigroup started coverage on shares of Norfolk Southern in a research report on Wednesday, October 9th. They set a “buy” rating and a $294.00 price objective on the stock. Morgan Stanley reissued an “underweight” rating and set a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. Susquehanna upped their target price on shares of Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. 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 report on Wednesday, September 25th. Finally, Royal Bank of Canada upped their target price on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $266.17.

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.