Louisiana State Employees Retirement System Trims Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Louisiana State Employees Retirement System decreased its position in Norfolk Southern Co. (NYSE:NSC) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,700 shares of the railroad operator’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Norfolk Southern were worth $3,156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NSC. Cedar Wealth Management LLC bought a new position in shares of Norfolk Southern in the 1st quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern during the second quarter valued at approximately $27,000. Financial Connections Group Inc. bought a new position in shares of Norfolk Southern during the second quarter valued at approximately $31,000. HWG Holdings LP bought a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $31,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NYSE NSC opened at $251.09 on Monday. The company has a 50-day moving average price of $249.22 and a 200-day moving average price of $236.79. Norfolk Southern Co. has a 52 week low of $183.76 and a 52 week high of $263.66. The company has a quick ratio of 0.54, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $56.72 billion, a P/E ratio of 40.43, a PEG ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The business 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.65 earnings per share. Equities research analysts anticipate that Norfolk Southern Co. will post 11.78 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be given a dividend of $1.35 per share. 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 (DPR) is presently 86.96%.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy acquired 700 shares of the 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 transaction, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Alan H. Shaw sold 51,325 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sameh Fahmy purchased 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were acquired at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares of the company’s stock, valued at approximately $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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NSC. Citigroup boosted their target price on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Susquehanna upped their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Jefferies Financial Group lifted their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus increased their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern 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.