Raleigh Capital Management Inc. Has $304,000 Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Raleigh Capital Management Inc. cut its position in Norfolk Southern Co. (NYSE:NSC) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,224 shares of the railroad operator’s stock after selling 88 shares during the period. Raleigh Capital Management Inc.’s holdings in Norfolk Southern were worth $304,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NSC. Park Avenue Securities LLC grew its stake in shares of Norfolk Southern by 4.5% in the 1st quarter. Park Avenue Securities LLC now owns 4,772 shares of the railroad operator’s stock valued at $1,216,000 after buying an additional 207 shares during the period. Wealthcare Advisory Partners LLC grew its stake in shares of Norfolk Southern by 72.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,900 shares of the railroad operator’s stock valued at $739,000 after buying an additional 1,221 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Norfolk Southern by 6.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,527 shares of the railroad operator’s stock valued at $10,584,000 after buying an additional 2,483 shares during the period. Sunburst Financial Group LLC boosted its stake in Norfolk Southern by 16.4% during the 1st quarter. Sunburst Financial Group LLC now owns 1,063 shares of the railroad operator’s stock valued at $268,000 after purchasing an additional 150 shares during the last quarter. Finally, Indiana Trust & Investment Management CO boosted its stake in Norfolk Southern by 3.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock valued at $376,000 after purchasing an additional 43 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NSC shares. Evercore ISI lifted their price target on Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Benchmark lifted their price target on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Susquehanna lifted their price target on Norfolk Southern from $255.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada lifted their price target on Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $175.00 price target on shares of Norfolk Southern in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.61.

Norfolk Southern Trading Up 4.9 %

NYSE:NSC opened at $260.43 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $58.83 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The firm’s 50 day moving average is $248.46 and its 200 day moving average is $236.73. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66.

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

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.07%. Norfolk Southern’s payout ratio is 86.96%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.