Norfolk Southern Corporation $NSC Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB trimmed its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 7.3% in the third quarter, HoldingsChannel.com reports. The fund owned 48,401 shares of the railroad operator’s stock after selling 3,785 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Norfolk Southern were worth $14,540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC boosted its stake in shares of Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after purchasing an additional 36 shares during the period. BNP Paribas acquired a new position in shares of Norfolk Southern in the second quarter worth $26,000. True Wealth Design LLC increased its position in shares of Norfolk Southern by 423.8% during the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after acquiring an additional 89 shares during the period. Highline Wealth Partners LLC raised its stake in shares of Norfolk Southern by 68.9% in the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock valued at $31,000 after acquiring an additional 42 shares in the last quarter. Finally, NewSquare Capital LLC increased its holdings in Norfolk Southern by 58.5% during the 2nd quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock worth $33,000 after purchasing an additional 48 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 1.6%

NYSE NSC opened at $290.85 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. The company has a market capitalization of $65.26 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 5.02 and a beta of 1.33. The firm’s fifty day moving average price is $289.50 and its 200 day moving average price is $283.65.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.25 EPS. On average, sell-side analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Friday, November 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s dividend payout ratio is currently 41.19%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NSC. TD Cowen decreased their price objective on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Evercore ISI lifted their price target on shares of Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. Weiss Ratings lowered shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. UBS Group lowered their target price on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $325.00 target price on shares of Norfolk Southern in a report on Thursday, December 18th. Eight research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $303.52.

Insider Buying and Selling

In other news, EVP Anil Bhatt sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total value of $253,440.00. Following the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. The trade was a 38.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Anderson acquired 2,600 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was purchased at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the transaction, the director owned 7,000 shares in the company, valued at $1,973,020. The trade was a 59.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 4,454 shares of company stock valued at $1,259,874. Company insiders own 0.06% of the company’s stock.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.