Norfolk Southern Co. (NYSE:NSC) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,228 shares of the railroad operator’s stock after selling 258 shares during the quarter. Hartford Investment Management Co.’s holdings in Norfolk Southern were worth $3,536,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC purchased a new position in Norfolk Southern in the 1st quarter valued at approximately $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern in the second quarter valued at $27,000. Financial Connections Group Inc. acquired a new position in Norfolk Southern during the 2nd quarter worth $31,000. HWG Holdings LP purchased a new stake in Norfolk Southern during the 2nd quarter worth about $31,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Norfolk Southern in the 2nd quarter valued at about $34,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley restated an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. Stephens restated an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI dropped their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Citigroup upped their price objective on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a research report on Tuesday. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $274.16.

Insider Transactions at Norfolk Southern

In related news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the sale, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy acquired 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the acquisition, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC opened at $256.98 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The firm has a market cap of $58.06 billion, a PE ratio of 41.38, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The company’s 50 day simple moving average is $248.76 and its 200-day simple moving average is $236.88.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the company posted $2.65 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts predict that Norfolk Southern Co. will post 11.79 EPS for the current year.

Norfolk Southern Dividend Announcement

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