Integrated Advisors Network LLC Cuts Holdings in Norfolk Southern Co. (NYSE:NSC)

Integrated Advisors Network LLC cut its position in shares of Norfolk Southern Co. (NYSE:NSC) by 16.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,054 shares of the railroad operator’s stock after selling 770 shares during the quarter. Integrated Advisors Network LLC’s holdings in Norfolk Southern were worth $1,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NSC. Cedar Wealth Management LLC purchased a new position in 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 about $27,000. Financial Connections Group Inc. purchased a new position in Norfolk Southern during the second quarter worth about $31,000. HWG Holdings LP purchased a new position in Norfolk Southern during the second quarter worth about $31,000. Finally, Hobbs Group Advisors LLC purchased a new position in Norfolk Southern during the second quarter worth about $34,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was acquired at an average price of $255.00 per share, with a total value of $255,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $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 link. In related news, Director Sameh Fahmy purchased 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was acquired at an average price of $255.00 per share, with a total value of $255,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $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 link. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on NSC shares. Benchmark lifted their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein lifted their price objective 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. Loop Capital lifted their price objective on shares of Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. Finally, Barclays lifted their price objective on shares of Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $274.16.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $252.64 on Thursday. The company has a 50 day moving average of $249.93 and a 200 day moving average of $236.98. The stock has a market cap of $57.16 billion, a P/E ratio of 23.72, a P/E/G ratio of 2.38 and a beta of 1.31. Norfolk Southern Co. has a 12 month low of $187.75 and a 12 month high of $263.66. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the company earned $2.65 earnings per share. Norfolk Southern’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.14%. Norfolk Southern’s dividend payout ratio is presently 50.70%.

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.