Norfolk Southern Co. (NYSE:NSC) Shares Sold by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC reduced its stake in shares of Norfolk Southern Co. (NYSE:NSCGet Rating) by 6.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,994 shares of the railroad operator’s stock after selling 200 shares during the period. SignalPoint Asset Management LLC’s holdings in Norfolk Southern were worth $854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vectors Research Management LLC grew its position in shares of Norfolk Southern by 468.8% during the 4th quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Concord Wealth Partners grew its position in shares of Norfolk Southern by 2,300.0% during the 1st quarter. Concord Wealth Partners now owns 120 shares of the railroad operator’s stock valued at $34,000 after acquiring an additional 115 shares during the period. Benjamin Edwards Inc. grew its position in shares of Norfolk Southern by 141.4% during the 4th quarter. Benjamin Edwards Inc. now owns 140 shares of the railroad operator’s stock valued at $42,000 after acquiring an additional 82 shares during the period. HWG Holdings LP acquired a new stake in shares of Norfolk Southern during the 4th quarter valued at about $43,000. Finally, Riverview Trust Co acquired a new stake in shares of Norfolk Southern during the 1st quarter valued at about $42,000. 73.63% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

NSC traded up $1.32 on Friday, hitting $251.02. 627,594 shares of the company were exchanged, compared to its average volume of 1,294,636. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.98 and a current ratio of 1.10. The business’s fifty day moving average is $234.32 and its 200 day moving average is $253.77. Norfolk Southern Co. has a fifty-two week low of $217.00 and a fifty-two week high of $299.20. The firm has a market capitalization of $58.96 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.86 and a beta of 1.32.

Norfolk Southern (NYSE:NSCGet Rating) last issued its earnings results on Wednesday, July 27th. The railroad operator reported $3.45 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.03). Norfolk Southern had a return on equity of 22.42% and a net margin of 25.57%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the company posted $3.28 earnings per share. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Norfolk Southern Co. will post 13.67 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, August 20th. Shareholders of record on Monday, August 8th will be given a dividend of $1.24 per share. The ex-dividend date is Friday, August 5th. This represents a $4.96 annualized dividend and a yield of 1.98%. Norfolk Southern’s payout ratio is currently 39.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NSC shares. Credit Suisse Group started coverage on Norfolk Southern in a report on Monday, June 27th. They issued an “outperform” rating and a $267.00 price objective on the stock. TD Securities lifted their price objective on Norfolk Southern from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 28th. Susquehanna Bancshares lowered their price objective on Norfolk Southern from $350.00 to $275.00 in a report on Wednesday, July 6th. Cowen decreased their target price on shares of Norfolk Southern from $331.00 to $316.00 in a research note on Thursday, July 28th. Finally, Wells Fargo & Company decreased their target price on shares of Norfolk Southern from $340.00 to $274.00 and set an “overweight” rating on the stock in a research note on Friday, July 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $283.10.

Insiders Place Their Bets

In other Norfolk Southern news, CEO Alan H. Shaw sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $241.84, for a total transaction of $241,840.00. Following the transaction, the chief executive officer now directly owns 34,255 shares in the company, valued at $8,284,229.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director James A. Squires sold 105,420 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $248.81, for a total value of $26,229,550.20. Following the sale, the director now directly owns 42,728 shares in the company, valued at $10,631,153.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan H. Shaw sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $241.84, for a total transaction of $241,840.00. Following the transaction, the chief executive officer now directly owns 34,255 shares in the company, valued at approximately $8,284,229.20. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

About Norfolk Southern

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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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

Further Reading

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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