Hurlow Wealth Management Group Inc. Sells 86 Shares of Norfolk Southern Co. (NYSE:NSC)

Hurlow Wealth Management Group Inc. cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,052 shares of the railroad operator’s stock after selling 86 shares during the period. Hurlow Wealth Management Group Inc.’s holdings in Norfolk Southern were worth $510,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Salvus Wealth Management LLC grew its holdings in shares of Norfolk Southern by 3.3% during the third quarter. Salvus Wealth Management LLC now owns 4,702 shares of the railroad operator’s stock valued at $1,168,000 after buying an additional 151 shares during the last quarter. Fulton Bank N.A. boosted its holdings in Norfolk Southern by 2.1% in the third quarter. Fulton Bank N.A. now owns 8,181 shares of the railroad operator’s stock valued at $2,033,000 after purchasing an additional 169 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in Norfolk Southern by 8.7% in the third quarter. Miracle Mile Advisors LLC now owns 1,416 shares of the railroad operator’s stock valued at $352,000 after purchasing an additional 113 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Norfolk Southern by 22.9% in the third quarter. GAMMA Investing LLC now owns 3,708 shares of the railroad operator’s stock valued at $921,000 after purchasing an additional 692 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in Norfolk Southern by 6.7% in the third quarter. Handelsbanken Fonder AB now owns 97,081 shares of the railroad operator’s stock valued at $24,125,000 after purchasing an additional 6,108 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

NSC stock traded down $4.10 during mid-day trading on Monday, reaching $243.82. The company’s stock had a trading volume of 681,853 shares, compared to its average volume of 1,260,556. The company’s 50 day moving average is $246.80 and its two-hundred day moving average is $236.88. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The stock has a market cap of $55.08 billion, a PE ratio of 39.26, a P/E/G ratio of 2.40 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the company posted $2.95 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts expect that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.21%. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Insider Activity

In related news, Director Sameh Fahmy acquired 700 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy acquired 700 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now directly owns 7,700 shares in the company, valued at $1,887,655. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

NSC has been the subject of a number of analyst reports. Sanford C. Bernstein decreased their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Stifel Nicolaus upped their price objective on shares of Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Morgan Stanley reiterated an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. Royal Bank of Canada upped their price objective on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Finally, Benchmark upped their price objective on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $266.56.

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.