Norfolk Southern Co. (NYSE:NSC) Director Sells $26,229,550.20 in Stock

Norfolk Southern Co. (NYSE:NSCGet Rating) Director James A. Squires sold 105,420 shares of Norfolk Southern stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $248.81, for a total value of $26,229,550.20. Following the sale, the director now owns 42,728 shares of the company’s stock, valued at approximately $10,631,153.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Norfolk Southern Price Performance

NSC opened at $251.02 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.98 and a current ratio of 1.10. Norfolk Southern Co. has a 52-week low of $217.00 and a 52-week high of $299.20. The stock has a market capitalization of $58.96 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.85 and a beta of 1.32. The stock’s 50 day moving average price is $234.32 and its 200-day moving average price is $253.77.

Norfolk Southern (NYSE:NSCGet Rating) last posted its earnings results on Wednesday, July 27th. The railroad operator reported $3.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.03). Norfolk Southern had a net margin of 25.57% and a return on equity of 22.42%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the firm posted $3.28 earnings per share. Norfolk Southern’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts predict that Norfolk Southern Co. will post 13.67 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, August 20th. Stockholders of record on Monday, August 8th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, August 5th. This represents a $4.96 annualized dividend and a dividend yield of 1.98%. Norfolk Southern’s dividend payout ratio (DPR) is presently 39.49%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NSC. Barclays dropped their price target on Norfolk Southern from $300.00 to $255.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 14th. Cowen dropped their target price on Norfolk Southern from $331.00 to $316.00 in a research report on Thursday, July 28th. Wells Fargo & Company dropped their target price on Norfolk Southern from $340.00 to $274.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. Stephens dropped their target price on Norfolk Southern from $244.00 to $243.00 and set an “equal weight” rating for the company in a research report on Thursday, July 28th. Finally, TD Securities boosted their target price on Norfolk Southern from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $283.10.

Institutional Investors Weigh In On Norfolk Southern

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NuWave Investment Management LLC purchased a new stake in Norfolk Southern in the second quarter worth $25,000. Vectors Research Management LLC grew its stake in Norfolk Southern by 468.8% in the fourth quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 75 shares during the period. Blume Capital Management Inc. purchased a new stake in Norfolk Southern in the first quarter worth $29,000. Worth Asset Management LLC purchased a new stake in Norfolk Southern in the first quarter worth $30,000. Finally, Concord Wealth Partners grew its stake in Norfolk Southern by 2,300.0% in the first quarter. Concord Wealth Partners now owns 120 shares of the railroad operator’s stock worth $34,000 after purchasing an additional 115 shares during the period. 73.63% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Company Profile

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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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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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