Ashton Thomas Private Wealth LLC Purchases 953 Shares of Norfolk Southern Co. (NYSE:NSC)

Ashton Thomas Private Wealth LLC grew its holdings in Norfolk Southern Co. (NYSE:NSC) by 42.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,188 shares of the railroad operator’s stock after purchasing an additional 953 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Norfolk Southern were worth $792,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NSC. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern in the 3rd quarter valued at $25,000. Cedar Wealth Management LLC acquired a new stake in shares of Norfolk Southern in the first quarter valued at about $27,000. 1620 Investment Advisors Inc. bought a new stake in Norfolk Southern during the second quarter worth about $27,000. Financial Connections Group Inc. acquired a new position in Norfolk Southern during the second quarter valued at approximately $31,000. Finally, HWG Holdings LP bought a new position in Norfolk Southern in the second quarter valued at approximately $31,000. Institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sameh Fahmy bought 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy bought 1,000 shares of the stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NSC shares. Barclays increased their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America upped their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stephens reiterated an “equal weight” rating and set a $263.00 price target on shares of Norfolk Southern in a report on Wednesday, October 23rd. Finally, Citigroup upped their price objective on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $269.26 on Thursday. Norfolk Southern Co. has a 12-month low of $201.44 and a 12-month high of $277.60. The company’s 50 day moving average price is $252.33 and its two-hundred day moving average price is $238.24. The firm has a market cap of $60.92 billion, a PE ratio of 25.28, a PEG ratio of 2.54 and a beta of 1.30. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last issued its quarterly 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 business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.65 earnings per share. Equities research analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.01%. Norfolk Southern’s dividend payout ratio is 50.70%.

Norfolk Southern 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.