Norfolk Southern Co. (NYSE:NSC) is M. Kraus & Co’s 8th Largest Position

M. Kraus & Co reduced its position in shares of Norfolk Southern Co. (NYSE:NSC) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,436 shares of the railroad operator’s stock after selling 1,002 shares during the period. Norfolk Southern comprises approximately 3.3% of M. Kraus & Co’s portfolio, making the stock its 8th largest position. M. Kraus & Co’s holdings in Norfolk Southern were worth $11,291,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Cedar Wealth Management LLC acquired a new position in shares of Norfolk Southern during the first quarter worth about $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern during the second quarter worth approximately $27,000. Financial Connections Group Inc. purchased a new position in Norfolk Southern during the second quarter worth approximately $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern in the second quarter worth $31,000. Finally, Rise Advisors LLC acquired a new stake in Norfolk Southern during the 1st quarter valued at $34,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Sameh Fahmy purchased 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sameh Fahmy purchased 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Price Performance

Norfolk Southern stock traded up $2.24 during trading hours on Monday, hitting $252.41. 179,445 shares of the company traded hands, compared to its average volume of 1,247,914. The firm has a market cap of $57.02 billion, a P/E ratio of 40.52, a P/E/G ratio of 2.33 and a beta of 1.31. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The firm’s 50-day simple moving average is $246.64 and its two-hundred day simple moving average is $236.66. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 EPS. As a group, analysts forecast that Norfolk Southern Co. will post 11.79 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Sanford C. Bernstein raised their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Citigroup began coverage on shares of Norfolk Southern in a research report on Wednesday, October 9th. They issued a “buy” rating and a $294.00 price target on the stock. Royal Bank of Canada raised their price target on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Finally, Susquehanna raised their price target on shares of 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 assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $266.17.

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.