MetLife Investment Management LLC Sells 1,469 Shares of Norfolk Southern Co. (NYSE:NSC)

MetLife Investment Management LLC reduced its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 58,790 shares of the railroad operator’s stock after selling 1,469 shares during the period. MetLife Investment Management LLC’s holdings in Norfolk Southern were worth $14,609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern in the 3rd quarter valued at $25,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $27,000. Coastline Trust Co bought a new stake in Norfolk Southern during the third quarter worth about $32,000. Capital Performance Advisors LLP acquired a new position in Norfolk Southern during the third quarter valued at approximately $33,000. Finally, Financial Connections Group Inc. bought a new position in Norfolk Southern in the second quarter valued at approximately $31,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NSC has been the subject of several recent analyst reports. Loop Capital increased their price objective on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their price objective on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. Royal Bank of Canada boosted their price objective on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Bank of America raised their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their price target on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $275.38 on Thursday. 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 company has a 50-day simple moving average of $255.60 and a two-hundred day simple moving average of $240.87. The stock has a market capitalization of $62.30 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 2.62 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released 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 during 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.65 earnings per share. Analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

Insider Transactions at Norfolk Southern

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

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.