Norfolk Southern Co. (NYSE:NSC) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. cut its stake in Norfolk Southern Co. (NYSE:NSC) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,832 shares of the railroad operator’s stock after selling 650 shares during the period. Linscomb Wealth Inc.’s holdings in Norfolk Southern were worth $9,898,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Avantax Advisory Services Inc. boosted its holdings in Norfolk Southern by 5.0% in the first quarter. Avantax Advisory Services Inc. now owns 7,721 shares of the railroad operator’s stock valued at $1,968,000 after acquiring an additional 366 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Norfolk Southern by 41.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 26,913 shares of the railroad operator’s stock worth $6,859,000 after purchasing an additional 7,938 shares during the period. Blair William & Co. IL increased its position in Norfolk Southern by 3.1% during the 1st quarter. Blair William & Co. IL now owns 47,459 shares of the railroad operator’s stock worth $12,096,000 after purchasing an additional 1,431 shares in the last quarter. First Foundation Advisors raised its holdings in Norfolk Southern by 13.5% in the first quarter. First Foundation Advisors now owns 1,008 shares of the railroad operator’s stock valued at $257,000 after buying an additional 120 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in Norfolk Southern by 8.5% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 853,694 shares of the railroad operator’s stock worth $215,464,000 after buying an additional 67,024 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This represents a 59.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sameh Fahmy bought 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE NSC traded down $2.09 during midday trading on Friday, hitting $262.67. The company’s stock had a trading volume of 173,522 shares, compared to its average volume of 1,251,672. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern Co. has a 1-year low of $205.70 and a 1-year high of $277.60. The firm’s fifty day moving average price is $252.76 and its 200-day moving average price is $238.64. The firm has a market cap of $59.43 billion, a P/E ratio of 24.94, a P/E/G ratio of 2.55 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.65 earnings per share. On average, sell-side analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s payout ratio is 50.70%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Loop Capital lifted their target price on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their target price on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Evercore ISI dropped their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Susquehanna upped their price target on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Barclays boosted their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $275.68.

About Norfolk Southern

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.