MTM Investment Management LLC Has $2.13 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

MTM Investment Management LLC decreased its position in Norfolk Southern Co. (NYSE:NSC) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,574 shares of the railroad operator’s stock after selling 49 shares during the quarter. MTM Investment Management LLC’s holdings in Norfolk Southern were worth $2,126,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in shares of Norfolk Southern during the third quarter worth $25,000. 1620 Investment Advisors Inc. bought a new position in Norfolk Southern during the second quarter worth about $27,000. Financial Connections Group Inc. acquired a new stake in Norfolk Southern in the 2nd quarter worth about $31,000. HWG Holdings LP bought a new stake in Norfolk Southern in the 2nd quarter valued at about $31,000. Finally, Coastline Trust Co acquired a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $32,000. Institutional investors own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy purchased 1,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was 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 in the company, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 stock was 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 approximately $8,970,819.10. This trade represents a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $259.71 on Wednesday. The firm has a market cap of $58.76 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30. 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’s fifty day moving average is $253.14 and its 200-day moving average is $239.27.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion during 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.65 earnings per share. Sell-side analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NSC shares. Stifel Nicolaus increased their price target on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. Royal Bank of Canada upped their target price on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. TD Cowen boosted their price target on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Barclays upped their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Bank of America raised their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.