Norfolk Southern Co. (NYSE:NSC) CMO Claude E. Elkins Sells 8,329 Shares

Norfolk Southern Co. (NYSE:NSCGet Free Report) CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Norfolk Southern Trading Down 0.5 %

Shares of NSC stock opened at $229.94 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The stock has a market cap of $51.95 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 3.24 and a beta of 1.30. The company’s 50-day moving average price is $246.75 and its 200-day moving average price is $235.51. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66.

Norfolk Southern (NYSE:NSCGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the firm posted $3.32 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, equities analysts predict that Norfolk Southern Co. will post 11.62 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NSC. BMO Capital Markets cut their price target on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a research note on Monday, January 29th. JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Sanford C. Bernstein raised Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 target price for the company in a research note on Monday, January 22nd. Morgan Stanley cut Norfolk Southern from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $185.00 to $175.00 in a research note on Monday, January 29th. Finally, Jefferies Financial Group began coverage on Norfolk Southern in a research note on Monday, April 8th. They issued a “buy” rating and a $300.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $260.74.

Get Our Latest Stock Report on NSC

Institutional Investors Weigh In On Norfolk Southern

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in Norfolk Southern in the fourth quarter valued at about $556,797,000. American Century Companies Inc. grew its position in shares of Norfolk Southern by 69.0% during the 3rd quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock worth $536,319,000 after purchasing an additional 1,112,261 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Norfolk Southern by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after acquiring an additional 1,088,072 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Norfolk Southern by 600.3% during the 4th quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock valued at $241,421,000 after purchasing an additional 875,473 shares during the last quarter. Finally, London Co. of Virginia lifted its holdings in shares of Norfolk Southern by 41.2% during the third quarter. London Co. of Virginia now owns 1,976,871 shares of the railroad operator’s stock worth $389,305,000 after purchasing an additional 577,171 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Company Profile

(Get Free Report)

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.

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