Foundations Investment Advisors LLC Sells 1,000 Shares of Norfolk Southern Co. (NYSE:NSC)

Foundations Investment Advisors LLC trimmed its position in Norfolk Southern Co. (NYSE:NSC) by 33.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,011 shares of the railroad operator’s stock after selling 1,000 shares during the period. Foundations Investment Advisors LLC’s holdings in Norfolk Southern were worth $500,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Norfolk Southern by 5.9% during the first quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after purchasing an additional 1,088,072 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Norfolk Southern by 2.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,986,180 shares of the railroad operator’s stock worth $1,525,699,000 after buying an additional 124,362 shares during the period. EdgePoint Investment Group Inc. grew its holdings in Norfolk Southern by 1.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 3,789,436 shares of the railroad operator’s stock worth $813,554,000 after acquiring an additional 37,386 shares during the last quarter. American Century Companies Inc. increased its position in Norfolk Southern by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock valued at $720,626,000 after acquiring an additional 496,088 shares during the period. Finally, Boston Partners lifted its holdings in shares of Norfolk Southern by 157.1% during the first quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after purchasing an additional 1,766,135 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Activity

In related news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Norfolk Southern news, Director Richard H. Anderson bought 2,000 shares of the stock in a transaction dated Monday, July 29th. The shares were bought at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $742,440. This trade represents a 200.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 3,700 shares of company stock worth $921,565 over the last quarter. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

NSC has been the subject of a number of recent research reports. Benchmark increased their price objective on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus lifted their price objective on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. Bank of America raised their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group increased their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, 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 report on Wednesday. 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $274.16.

Norfolk Southern Stock Down 0.9 %

Norfolk Southern stock opened at $251.09 on Friday. The firm has a market capitalization of $56.77 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. The firm’s fifty day moving average price is $249.01 and its two-hundred day moving average price is $236.99. Norfolk Southern Co. has a 1-year low of $183.76 and a 1-year high of $263.66. The company has a current ratio of 0.73, a quick ratio of 0.54 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company posted $2.65 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Norfolk Southern Co. will post 11.78 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. Shareholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is 50.70%.

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.