Norfolk Southern Corporation $NSC Shares Sold by Waters Parkerson & CO. LLC

Waters Parkerson & CO. LLC trimmed its stake in Norfolk Southern Corporation (NYSE:NSC) by 3.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,137 shares of the railroad operator’s stock after selling 3,465 shares during the quarter. Norfolk Southern comprises 1.3% of Waters Parkerson & CO. LLC’s portfolio, making the stock its 29th largest position. Waters Parkerson & CO. LLC’s holdings in Norfolk Southern were worth $27,078,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC grew its stake in Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares during the period. BNP Paribas acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at approximately $26,000. Highline Wealth Partners LLC boosted its stake in Norfolk Southern by 68.9% during the 3rd 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 during the last quarter. True Wealth Design LLC grew its stake in Norfolk Southern by 423.8% in the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after purchasing an additional 89 shares in the last quarter. Finally, Financial Consulate Inc. acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at approximately $36,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 0.2%

Norfolk Southern stock opened at $290.09 on Friday. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $302.24. The stock has a market cap of $65.09 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 5.09 and a beta of 1.33. The company’s 50-day moving average price is $289.61 and its two-hundred day moving average price is $283.89. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09.

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

Norfolk Southern Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research note on Thursday, December 18th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $325.00 price target on shares of Norfolk Southern in a research report on Thursday, December 18th. Citigroup boosted their price objective on Norfolk Southern from $307.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Zacks Research lowered Norfolk Southern from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 19th. Finally, Susquehanna raised their target price on Norfolk Southern from $288.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Eight analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $303.52.

Insider Transactions at Norfolk Southern

In related news, EVP Anil Bhatt sold 900 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total transaction of $253,440.00. Following the completion of the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at $397,900.80. This trade represents a 38.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sameh Fahmy purchased 1,650 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was acquired at an average price of $282.97 per share, for a total transaction of $466,900.50. Following the completion of the transaction, the director owned 12,000 shares of the company’s stock, valued at $3,395,640. This represents a 15.94% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 4,454 shares of company stock worth $1,259,874. Corporate 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.