W.G. Shaheen & Associates DBA Whitney & Co Has $7.25 Million Stock Position in Norfolk Southern Corporation $NSC

W.G. Shaheen & Associates DBA Whitney & Co cut its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 34.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,143 shares of the railroad operator’s stock after selling 12,501 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Norfolk Southern were worth $7,253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NSC. ORG Partners LLC lifted its position in shares of Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Westside Investment Management Inc. boosted its stake in Norfolk Southern by 207.1% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after buying an additional 58 shares in the last quarter. BNP Paribas bought a new position in Norfolk Southern in the second quarter valued at about $26,000. True Wealth Design LLC raised its stake in Norfolk Southern by 423.8% during the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Finally, MMA Asset Management LLC bought a new position in shares of Norfolk Southern in the third quarter worth about $28,000. Institutional investors own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In related news, EVP Anil Bhatt sold 900 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total value of $253,440.00. Following the transaction, the executive vice president directly owned 1,413 shares of the company’s stock, valued at $397,900.80. The trade was a 38.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Jr. Clyburn bought 204 shares of Norfolk Southern stock in a transaction that occurred on Friday, December 5th. The stock was bought at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the acquisition, the director directly owned 405 shares of the company’s stock, valued at $119,389.95. The trade was a 101.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NSC shares. Wolfe Research lifted their price target on shares of Norfolk Southern from $361.00 to $368.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Sanford C. Bernstein dropped their price objective on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. TD Cowen decreased their target price on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Morgan Stanley upgraded shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Finally, UBS Group cut Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price target for the company. in a research note on Friday, February 6th. Seven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and an average price target of $304.47.

Norfolk Southern Price Performance

NSC stock opened at $315.13 on Tuesday. The company has a market capitalization of $70.77 billion, a P/E ratio of 24.72, a PEG ratio of 5.60 and a beta of 1.34. The company has a fifty day moving average price of $294.22 and a 200-day moving average price of $288.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $319.94.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.Norfolk Southern’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. As a group, equities analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 6th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio is presently 42.35%.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.