Franklin Street Advisors Inc. NC Has $1.50 Million Stock Position in Norfolk Southern Corporation $NSC

Franklin Street Advisors Inc. NC lessened its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 55.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the railroad operator’s stock after selling 6,200 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Norfolk Southern were worth $1,502,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC boosted its holdings in Norfolk Southern by 1.8% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 2,042 shares of the railroad operator’s stock worth $613,000 after acquiring an additional 37 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of Norfolk Southern by 4.2% during the third quarter. Dynamic Advisor Solutions LLC now owns 2,976 shares of the railroad operator’s stock worth $894,000 after purchasing an additional 120 shares during the period. Wedmont Private Capital lifted its holdings in shares of Norfolk Southern by 5.6% in the 3rd quarter. Wedmont Private Capital now owns 3,888 shares of the railroad operator’s stock worth $1,150,000 after purchasing an additional 205 shares in the last quarter. Czech National Bank grew its position in Norfolk Southern by 3.4% in the 3rd quarter. Czech National Bank now owns 56,982 shares of the railroad operator’s stock valued at $17,118,000 after purchasing an additional 1,876 shares during the period. Finally, Chesley Taft & Associates LLC bought a new stake in Norfolk Southern during the 3rd quarter valued at $212,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Down 0.2%

Shares of NSC stock opened at $291.39 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86. The company has a market capitalization of $65.39 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 5.39 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. The company has a 50-day simple moving average of $287.84 and a two-hundred day simple moving average of $278.71.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the business earned $3.25 EPS. Norfolk Southern’s quarterly revenue was up .0% compared to the same quarter last year. Research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Friday, November 7th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s payout ratio is currently 41.19%.

Insiders Place Their Bets

In related news, EVP Anil Bhatt sold 900 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total transaction of $253,440.00. Following the completion of the transaction, the executive vice president owned 1,413 shares in the company, valued at approximately $397,900.80. This represents a 38.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sameh Fahmy acquired 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 acquisition, the director directly owned 12,000 shares of the company’s stock, valued at $3,395,640. The trade was a 15.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 4,454 shares of company stock worth $1,259,874 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

NSC has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Deutsche Bank Aktiengesellschaft lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and lowered their target price for the stock from $354.00 to $297.00 in a report on Thursday, December 11th. Zacks Research downgraded Norfolk Southern from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 19th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a report on Monday, October 27th. Finally, BMO Capital Markets increased their price objective on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $299.40.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.