Intech Investment Management LLC Sells 2,340 Shares of Norfolk Southern Co. (NYSE:NSC)

Intech Investment Management LLC decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 36.1% during the third quarter, HoldingsChannel reports. The fund owned 4,134 shares of the railroad operator’s stock after selling 2,340 shares during the quarter. Intech Investment Management LLC’s holdings in Norfolk Southern were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Highline Wealth Partners LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter valued at $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Norfolk Southern during the second quarter valued at about $27,000. Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern in the second quarter worth about $31,000. HWG Holdings LP bought a new position in shares of Norfolk Southern in the second quarter valued at approximately $31,000. Finally, Coastline Trust Co purchased a new position in Norfolk Southern during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $275.38 on Thursday. The stock has a market capitalization of $62.30 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 2.62 and a beta of 1.30. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The business’s 50 day simple moving average is $255.60 and its two-hundred day simple moving average is $240.87.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.65 EPS. Analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s payout ratio is 50.70%.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The shares were 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 directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group raised their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lifted their price objective on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. TD Cowen upped their target price on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada upped their price objective on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Company Profile

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.