Reaves W H & Co. Inc. Has $49.18 Million Position in Norfolk Southern Corporation $NSC

Reaves W H & Co. Inc. lowered its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 25.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,700 shares of the railroad operator’s stock after selling 55,600 shares during the quarter. Reaves W H & Co. Inc. owned about 0.07% of Norfolk Southern worth $49,177,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. ORG Partners LLC boosted its holdings in Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after acquiring an additional 36 shares during the period. BNP Paribas acquired a new position in shares of Norfolk Southern during the 2nd quarter worth about $26,000. Westside Investment Management Inc. boosted its stake in Norfolk Southern by 207.1% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after purchasing an additional 58 shares during the period. True Wealth Design LLC grew its holdings in Norfolk Southern by 423.8% in the 2nd quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after buying an additional 89 shares during the last quarter. Finally, MMA Asset Management LLC bought a new position in Norfolk Southern in the 3rd quarter worth approximately $28,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NSC shares. Royal Bank Of Canada reduced their price objective on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating for the company in a research report on Friday, January 30th. Susquehanna raised their price target on shares of Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Evercore boosted their price objective on shares of Norfolk Southern from $298.00 to $299.00 in a report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and reduced their target price for the company from $354.00 to $297.00 in a research note on Thursday, December 11th. Finally, TD Cowen lowered their price target on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern currently has an average rating of “Hold” and an average target price of $304.47.

Norfolk Southern Stock Performance

NYSE NSC opened at $305.92 on Tuesday. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $309.21. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The stock has a market cap of $68.65 billion, a P/E ratio of 23.99, a PEG ratio of 5.45 and a beta of 1.34. The company’s 50-day simple moving average is $292.01 and its 200 day simple moving average is $287.10.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the previous year, the business earned $3.04 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, February 6th. Norfolk Southern’s dividend payout ratio is currently 42.35%.

Insiders Place Their Bets

In other Norfolk Southern news, EVP Anil Bhatt sold 900 shares of Norfolk Southern stock in a transaction on Wednesday, November 19th. The stock was 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 directly owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. This trade represents a 38.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Jr. Clyburn bought 204 shares of the stock in a transaction dated Friday, December 5th. The stock was purchased at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the acquisition, the director owned 405 shares in the company, valued at $119,389.95. The trade was a 101.49% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by company insiders.

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.