Planning Directions Inc. Acquires Shares of 877 Norfolk Southern Co. (NYSE:NSC)

Planning Directions Inc. bought a new stake in Norfolk Southern Co. (NYSE:NSC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 877 shares of the railroad operator’s stock, valued at approximately $218,000.

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

Norfolk Southern Stock Performance

Shares of NSC opened at $261.26 on Monday. The firm has a market capitalization of $59.11 billion, a PE ratio of 24.53, a P/E/G ratio of 2.48 and a beta of 1.30. 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 firm has a 50-day moving average price of $252.99 and a 200 day moving average price of $238.90. Norfolk Southern Co. has a 52-week low of $205.70 and a 52-week high of $277.60.

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

Norfolk Southern Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Insider Activity

In other news, 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 sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 59.42 % 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. Also, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction dated Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

NSC has been the topic of several research reports. Evercore ISI dropped their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Barclays raised their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price objective on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. TD Cowen raised their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Finally, Stephens restated an “equal weight” rating and issued a $263.00 target price on shares of Norfolk Southern in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus target price of $275.68.

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.