Clearview Wealth Advisors LLC Decreases Stake in Norfolk Southern Co. (NYSE:NSC)

Clearview Wealth Advisors LLC decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,046 shares of the railroad operator’s stock after selling 70 shares during the quarter. Clearview Wealth Advisors LLC’s holdings in Norfolk Southern were worth $508,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Seven Eight Capital LP purchased a new stake in Norfolk Southern during the 2nd quarter valued at about $1,676,000. Manning & Napier Advisors LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at approximately $13,627,000. Broderick Brian C purchased a new position in Norfolk Southern during the first quarter worth approximately $956,000. OFI Invest Asset Management acquired a new position in Norfolk Southern during the second quarter worth $846,000. Finally, Hoxton Planning & Management LLC acquired a new position in Norfolk Southern during the third quarter worth $583,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NSC has been the topic of several recent research reports. Sanford C. Bernstein boosted their price target 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. Royal Bank of Canada lifted their target price on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Morgan Stanley reissued an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a research note on Monday, July 8th. Benchmark raised their price target on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Susquehanna increased their price objective on Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $266.17.

Insiders Place Their Bets

In other news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction dated 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 directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard H. Anderson purchased 2,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was acquired at an average price of $247.48 per share, for a total transaction of $494,960.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at $742,440. This represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Norfolk Southern Stock Up 0.2 %

Shares of NSC opened at $254.33 on Wednesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The stock has a market capitalization of $57.46 billion, a PE ratio of 40.95, a P/E/G ratio of 2.33 and a beta of 1.31. The company’s 50-day simple moving average is $247.13 and its 200-day simple moving average is $236.65. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.95 EPS. Analysts forecast that Norfolk Southern Co. will post 11.79 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.12%. Norfolk Southern’s payout ratio is 86.96%.

Norfolk Southern Company 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.