DRW Securities LLC Purchases Shares of 2,436 Norfolk Southern Co. (NYSE:NSC)

DRW Securities LLC acquired a new position in shares of Norfolk Southern Co. (NYSE:NSC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,436 shares of the railroad operator’s stock, valued at approximately $605,000.

Other large investors also recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern during the 3rd quarter valued at $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Norfolk Southern during the 2nd quarter worth about $27,000. Financial Connections Group Inc. acquired a new position in Norfolk Southern in the 2nd quarter valued at about $31,000. HWG Holdings LP bought a new position in Norfolk Southern in the 2nd quarter valued at about $31,000. Finally, Coastline Trust Co acquired a new stake in Norfolk Southern during the third quarter worth approximately $32,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NSC shares. Jefferies Financial Group increased their target price on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. TD Cowen boosted their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Benchmark raised their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $275.68.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy purchased 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. This represents a 59.42 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Price Performance

Shares of NSC stock opened at $276.11 on Wednesday. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The business has a fifty day simple moving average of $255.08 and a 200 day simple moving average of $240.63. The company has a market cap of $62.47 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.55 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $2.65 EPS. On average, sell-side analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s payout ratio is 50.70%.

Norfolk Southern Company 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.