Banco Bilbao Vizcaya Argentaria S.A. Sells 601 Shares of Norfolk Southern Corporation $NSC

Banco Bilbao Vizcaya Argentaria S.A. trimmed its stake in Norfolk Southern Corporation (NYSE:NSC) by 11.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,794 shares of the railroad operator’s stock after selling 601 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Norfolk Southern were worth $1,227,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NSC. Aberdeen Group plc grew its stake in Norfolk Southern by 6.4% during the second quarter. Aberdeen Group plc now owns 529,726 shares of the railroad operator’s stock worth $135,610,000 after buying an additional 31,878 shares in the last quarter. Morningstar Investment Management LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at approximately $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Norfolk Southern by 682.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock worth $14,337,000 after acquiring an additional 48,850 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Norfolk Southern by 10.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 116,795 shares of the railroad operator’s stock worth $29,896,000 after acquiring an additional 10,990 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Norfolk Southern by 4.6% in the second quarter. Sequoia Financial Advisors LLC now owns 76,057 shares of the railroad operator’s stock valued at $19,468,000 after acquiring an additional 3,367 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

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

Norfolk Southern Price Performance

Norfolk Southern stock opened at $281.87 on Tuesday. The stock has a 50-day moving average price of $286.96 and a two-hundred day moving average price of $270.23. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. The company has a market capitalization of $63.25 billion, a PE ratio of 21.50, a P/E/G ratio of 2.52 and a beta of 1.33. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09.

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

Norfolk Southern Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays upped their target price on Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $300.00 price objective on shares of Norfolk Southern in a research note on Friday, July 25th. Evercore ISI lifted their target price on Norfolk Southern from $289.00 to $298.00 in a research report on Thursday, September 25th. Finally, Robert W. Baird boosted their target price on Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $301.10.

About Norfolk Southern

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.