Norfolk Southern Co. (NYSE:NSC) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its position in shares of Norfolk Southern Co. (NYSE:NSC) by 21.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,450 shares of the railroad operator’s stock after selling 3,141 shares during the period. Oppenheimer & Co. Inc.’s holdings in Norfolk Southern were worth $2,845,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NSC. Boston Partners boosted its stake in shares of Norfolk Southern by 157.1% during the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock valued at $735,749,000 after buying an additional 1,766,135 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares during the last quarter. American Century Companies Inc. grew its holdings in Norfolk Southern by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after acquiring an additional 496,088 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Norfolk Southern by 10.2% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,752,050 shares of the railroad operator’s stock worth $956,285,000 after purchasing an additional 347,852 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Norfolk Southern by 23,037.4% in the 3rd quarter. International Assets Investment Management LLC now owns 349,143 shares of the railroad operator’s stock valued at $86,762,000 after purchasing an additional 347,634 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

NSC stock opened at $261.26 on Friday. The company has a 50-day simple moving average of $252.99 and a 200 day simple moving average of $238.78. The company has a market capitalization of $59.11 billion, a P/E ratio of 24.53, a PEG ratio of 2.55 and a beta of 1.30. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a fifty-two week low of $205.70 and a fifty-two week high of $277.60.

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, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the business posted $2.65 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders 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 dividend yield of 2.07%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Analysts Set New Price Targets

A number of equities analysts recently commented on NSC shares. Loop Capital lifted their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Susquehanna lifted their target price on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Barclays upped their price target on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday. Sanford C. Bernstein lifted their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Evercore ISI dropped their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. One investment 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’s stock. According to data from MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average price target of $275.68.

Insider Transactions at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sameh Fahmy purchased 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. This represents a 11.11 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% 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.