2,610 Shares in Norfolk Southern Co. (NYSE:NSC) Acquired by Eastern Bank

Eastern Bank purchased a new stake in Norfolk Southern Co. (NYSE:NSC) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,610 shares of the railroad operator’s stock, valued at approximately $649,000.

Other institutional investors also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC increased its position in Norfolk Southern by 72.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,900 shares of the railroad operator’s stock worth $739,000 after purchasing an additional 1,221 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Norfolk Southern by 6.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,527 shares of the railroad operator’s stock valued at $10,584,000 after acquiring an additional 2,483 shares during the period. Sunburst Financial Group LLC lifted its holdings in shares of Norfolk Southern by 16.4% during the 1st quarter. Sunburst Financial Group LLC now owns 1,063 shares of the railroad operator’s stock valued at $268,000 after acquiring an additional 150 shares in the last quarter. Indiana Trust & Investment Management CO boosted its position in Norfolk Southern by 3.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock worth $376,000 after purchasing an additional 43 shares during the period. Finally, Artemis Investment Management LLP purchased a new position in Norfolk Southern in the first quarter valued at about $56,144,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction dated 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 owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Norfolk Southern news, Director Sameh Fahmy purchased 700 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares in the company, valued at $1,887,655. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NSC. Bank of America increased their target price on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group lifted their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group boosted their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company raised their price target on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Susquehanna boosted their price objective on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $274.16.

Norfolk Southern Stock Down 1.3 %

Shares of NYSE:NSC opened at $256.98 on Thursday. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company’s fifty day moving average is $248.76 and its two-hundred day moving average is $236.88. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The stock has a market capitalization of $58.06 billion, a price-to-earnings ratio of 41.38, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $2.65 earnings per share. Equities analysts anticipate that Norfolk Southern Co. will post 11.79 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is presently 86.96%.

Norfolk Southern 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.