United Bank Grows Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

United Bank grew its stake in Norfolk Southern Co. (NYSE:NSC) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,875 shares of the railroad operator’s stock after purchasing an additional 204 shares during the period. United Bank’s holdings in Norfolk Southern were worth $2,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Lake Street Advisors Group LLC increased its position in shares of Norfolk Southern by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after purchasing an additional 41 shares in the last quarter. Hall Capital Management Co. Inc. grew its position in shares of Norfolk Southern by 2.8% during the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after acquiring an additional 42 shares during the last quarter. Blue Chip Partners LLC increased its holdings in shares of Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after acquiring an additional 42 shares during the period. Stephens Consulting LLC increased its stake in Norfolk Southern by 12.4% in the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after purchasing an additional 42 shares during the period. Finally, Foster Victor Wealth Advisors LLC grew its holdings in shares of Norfolk Southern by 4.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NSC. UBS Group lifted their target price on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus raised their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. Susquehanna increased their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Citigroup lifted their price objective on Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Stephens reissued an “equal weight” rating and issued a $263.00 price target on shares of Norfolk Southern in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average price target of $274.16.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Up 0.4 %

Norfolk Southern stock opened at $271.68 on Friday. The stock has a market cap of $61.46 billion, a PE ratio of 25.51, a P/E/G ratio of 2.63 and a beta of 1.30. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The stock has a 50-day moving average price of $251.77 and a 200 day moving average price of $237.87. Norfolk Southern Co. has a 52 week low of $193.15 and a 52 week high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. Norfolk Southern’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.65 earnings per share. Equities research analysts predict that Norfolk Southern Co. will post 11.81 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

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.