Norfolk Southern Co. (NYSE:NSC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in Norfolk Southern Co. (NYSE:NSC) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,848 shares of the railroad operator’s stock after selling 654 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Norfolk Southern were worth $6,920,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Highline Wealth Partners LLC acquired a new position in shares of Norfolk Southern during the 3rd quarter valued at about $25,000. 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 shares of Norfolk Southern during the 2nd quarter worth approximately $31,000. HWG Holdings LP acquired a new stake in Norfolk Southern in the 2nd quarter valued at approximately $31,000. Finally, Coastline Trust Co purchased a new stake in Norfolk Southern in the third quarter valued at approximately $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction 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 transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 59.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sameh Fahmy acquired 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $2,550,000. The trade was a 11.11 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Trading Up 0.4 %

NYSE NSC opened at $262.22 on Tuesday. The firm’s fifty day moving average price is $253.09 and its 200 day moving average price is $239.10. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The company has a market capitalization of $59.32 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.65 earnings per share. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is currently 50.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NSC shares. JPMorgan Chase & Co. lifted their price objective on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America increased their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna lifted their price objective on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Benchmark raised their price target on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, UBS Group upped their price objective on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One research 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 an average rating of “Moderate Buy” and an average target price of $275.68.

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.