Metis Global Partners LLC Reduces Position in Norfolk Southern Corporation $NSC

Metis Global Partners LLC trimmed its holdings in Norfolk Southern Corporation (NYSE:NSC) by 11.1% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,081 shares of the railroad operator’s stock after selling 1,005 shares during the quarter. Metis Global Partners LLC’s holdings in Norfolk Southern were worth $2,068,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WPG Advisers LLC bought a new stake in shares of Norfolk Southern in the first quarter worth approximately $27,000. NewSquare Capital LLC boosted its holdings in Norfolk Southern by 58.5% in the second quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Pinnacle Bancorp Inc. grew its position in Norfolk Southern by 30.5% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after purchasing an additional 43 shares during the period. Chung Wu Investment Group LLC purchased a new stake in Norfolk Southern during the 2nd quarter valued at $51,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Norfolk Southern during the 1st quarter valued at $56,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $284.23 on Monday. The stock has a market cap of $63.78 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The firm has a fifty day moving average price of $286.13 and a 200-day moving average price of $267.62. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78.

Norfolk Southern (NYSE:NSC) last released its earnings results 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 net margin of 24.22% and a return on equity of 18.93%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the firm posted $3.25 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, November 7th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, November 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is currently 41.19%.

Analyst Ratings Changes

NSC has been the subject of a number of research reports. Bank of America upped their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Royal Bank Of Canada cut their price target on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a research note on Friday, October 24th. BMO Capital Markets increased their price objective on shares of Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Barclays raised their price objective on shares of Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Finally, Sanford C. Bernstein increased their price target on shares of Norfolk Southern from $295.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $299.70.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average price of $282.97 per share, with a total value of $466,900.50. Following the purchase, the director owned 12,000 shares of the company’s stock, valued at $3,395,640. This trade represents a 15.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard H. Anderson purchased 2,600 shares of the company’s stock in a transaction on Monday, October 27th. The stock was acquired at an average price of $281.86 per share, with a total value of $732,836.00. Following the completion of the purchase, the director directly owned 7,000 shares in the company, valued at $1,973,020. This trade represents a 59.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by company insiders.

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.