Commerce Bank Reduces Position in Norfolk Southern Co. (NYSE:NSC)

Commerce Bank reduced its stake in Norfolk Southern Co. (NYSE:NSC) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,335 shares of the railroad operator’s stock after selling 358 shares during the period. Commerce Bank’s holdings in Norfolk Southern were worth $9,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NSC. Lake Street Advisors Group LLC increased its position in Norfolk Southern by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after buying an additional 41 shares during the period. Hall Capital Management Co. Inc. grew its stake in shares of Norfolk Southern by 2.8% in the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after buying an additional 42 shares in the last quarter. Blue Chip Partners LLC grew its stake in Norfolk Southern by 0.5% during the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after purchasing an additional 42 shares in the last quarter. Stephens Consulting LLC raised its stake in Norfolk Southern by 12.4% during the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after buying an additional 42 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its holdings in Norfolk Southern by 4.2% in the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after acquiring an additional 42 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Sameh Fahmy acquired 1,000 shares of the business’s stock in a transaction that occurred 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 purchase, the director now owns 10,000 shares in the company, valued at $2,550,000. The trade was a 11.11 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This represents a 59.42 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Up 2.1 %

NSC opened at $264.29 on Friday. The company has a 50 day moving average of $253.44 and a 200 day moving average of $239.58. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The company has a market cap of $59.79 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 earnings per share. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.04%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is 50.70%.

Wall Street Analysts Forecast Growth

NSC has been the subject of several recent analyst reports. Bank of America increased their price objective 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. Barclays upped their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Sanford C. Bernstein increased their target price on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Evercore ISI lowered their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group lifted their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.