Neville Rodie & Shaw Inc. Decreases Holdings in Norfolk Southern Corporation $NSC

Neville Rodie & Shaw Inc. lowered its holdings in Norfolk Southern Corporation (NYSE:NSC) by 8.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 38,708 shares of the railroad operator’s stock after selling 3,511 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Norfolk Southern were worth $11,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Norfolk Southern by 31.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock valued at $2,680,910,000 after purchasing an additional 2,710,930 shares in the last quarter. Norges Bank purchased a new stake in shares of Norfolk Southern during the 2nd quarter worth approximately $613,255,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at $321,393,000. Holocene Advisors LP grew its position in shares of Norfolk Southern by 550.6% in the 2nd quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator’s stock valued at $251,712,000 after buying an additional 832,210 shares during the last quarter. Finally, TOMS Capital Investment Management LP acquired a new stake in Norfolk Southern during the 2nd quarter worth $181,995,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $296.99 on Monday. The stock’s 50-day moving average price is $287.93 and its 200 day moving average price is $277.48. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $66.64 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 2.72 and a beta of 1.32. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $302.24.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the business posted $3.25 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. As a group, equities research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Friday, November 7th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern’s payout ratio is presently 41.19%.

Insider Activity

In other Norfolk Southern news, Director Richard H. Anderson acquired 2,600 shares of the stock in a transaction on Monday, October 27th. The shares were bought at an average price of $281.86 per share, with a total value of $732,836.00. Following the acquisition, the director owned 7,000 shares of the company’s stock, valued at $1,973,020. This trade represents a 59.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sameh Fahmy bought 1,650 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were acquired at an average price of $282.97 per share, for a total transaction of $466,900.50. Following the transaction, the director directly owned 12,000 shares in the company, valued at $3,395,640. This trade represents a 15.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 4,454 shares of company stock worth $1,259,874 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Monday, October 27th. Robert W. Baird set a $293.00 target price on Norfolk Southern in a research report on Friday, December 5th. Royal Bank Of Canada dropped their price target on 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. BMO Capital Markets boosted their price objective on Norfolk Southern from $285.00 to $305.00 and gave the company a “market perform” rating in a research note on Friday, October 24th. Finally, UBS Group decreased their price objective on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and a consensus price target of $297.90.

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.