Benjamin Edwards Inc. Takes Position in Norfolk Southern Co. (NYSE:NSC)

Benjamin Edwards Inc. purchased a new position in shares of Norfolk Southern Co. (NYSE:NSC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,416 shares of the railroad operator’s stock, valued at approximately $1,346,000.

Other institutional investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $25,000. 1620 Investment Advisors Inc. bought a new position in Norfolk Southern during the second quarter worth $27,000. Financial Connections Group Inc. acquired a new position in shares of Norfolk Southern in the second quarter valued at $31,000. HWG Holdings LP bought a new position in shares of Norfolk Southern in the second quarter valued at about $31,000. Finally, Coastline Trust Co acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 1.3 %

Shares of NSC opened at $264.11 on Friday. 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 52-week low of $206.71 and a 52-week high of $277.60. The firm has a market cap of $59.75 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 2.56 and a beta of 1.31. The business’s fifty day moving average is $258.51 and its 200-day moving average is $242.46.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the firm earned $2.65 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate 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 was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.04%. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Insiders Place Their Bets

In other news, Director Sameh Fahmy purchased 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average cost 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 of the company’s stock, valued at $2,550,000. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Alan H. Shaw sold 51,325 shares of the company’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 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 disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on NSC shares. Stifel Nicolaus upped their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. Evercore ISI lowered their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Susquehanna boosted their price target on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, UBS Group boosted their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.