Paradigm Asset Management Co. LLC Sells 1,800 Shares of Norfolk Southern Corporation $NSC

Paradigm Asset Management Co. LLC decreased its position in Norfolk Southern Corporation (NYSE:NSC) by 32.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,800 shares of the railroad operator’s stock after selling 1,800 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Norfolk Southern were worth $973,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NSC. WPG Advisers LLC bought a new stake in shares of Norfolk Southern in the 1st quarter valued at about $27,000. NewSquare Capital LLC raised its holdings in Norfolk Southern by 58.5% during the 2nd quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Norfolk Southern during the first quarter worth about $41,000. Pinnacle Bancorp Inc. grew its stake in shares of Norfolk Southern by 30.5% in the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after purchasing an additional 43 shares during the last quarter. Finally, Chung Wu Investment Group LLC purchased a new position in Norfolk Southern during the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.8%

Shares of NYSE:NSC opened at $284.23 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. The stock has a fifty day simple moving average of $286.13 and a two-hundred day simple moving average of $266.97. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $302.24. The stock has a market capitalization of $63.78 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.52 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.01). The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. Norfolk Southern’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.25 earnings per share. On average, research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, November 7th. Norfolk Southern’s dividend payout ratio (DPR) is 41.19%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NSC. Weiss Ratings lowered Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Barclays lifted their price target on shares of Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Monday, October 27th. TD Cowen dropped their target price on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Finally, Royal Bank Of Canada cut their target price on shares of Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating on the stock in a research note on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $299.70.

Insider Buying and Selling at Norfolk Southern

In other news, Director Richard H. Anderson acquired 2,600 shares of Norfolk Southern stock in a transaction that occurred on Monday, October 27th. The stock was bought at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the transaction, the director owned 7,000 shares in the company, valued at $1,973,020. The trade was a 59.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sameh Fahmy bought 1,650 shares of the stock in a transaction on Wednesday, November 5th. The stock was purchased at an average cost of $282.97 per share, for a total transaction of $466,900.50. Following the acquisition, the director owned 12,000 shares of the company’s stock, valued at $3,395,640. This trade represents a 15.94% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.06% of the company’s stock.

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.