Reynders McVeigh Capital Management LLC Has $808,000 Position in Norfolk Southern Co. (NYSE:NSC)

Reynders McVeigh Capital Management LLC lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 12.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,252 shares of the railroad operator’s stock after selling 458 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Norfolk Southern were worth $808,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Norfolk Southern by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after acquiring an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Norfolk Southern by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after purchasing an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares in the last quarter. Seven Eight Capital LP bought a new stake in Norfolk Southern during the 2nd quarter valued at $1,676,000. Finally, Dakota Wealth Management increased its stake in Norfolk Southern by 2.1% during the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock valued at $1,791,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.9 %

Shares of Norfolk Southern stock opened at $267.63 on Thursday. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The stock’s 50-day simple moving average is $258.12 and its 200 day simple moving average is $242.31. The stock has a market capitalization of $60.55 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.56 and a beta of 1.31. 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 (NYSE:NSC) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the business posted $2.65 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Wall Street Analyst Weigh In

A number of analysts have commented on NSC shares. Wells Fargo & Company boosted their price target on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America boosted their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada upped their target price on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Susquehanna raised their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Stephens reissued an “equal weight” rating and set a $263.00 price target on shares of Norfolk Southern in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $275.68.

Insider Activity

In other news, CEO Alan H. Shaw sold 51,325 shares of the company’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 sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 59.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sameh Fahmy purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were bought 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 of the company’s stock, valued at approximately $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. Company insiders own 0.19% of the company’s stock.

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.