Fruth Investment Management Cuts Position in Norfolk Southern Co. (NYSE:NSC)

Fruth Investment Management decreased its position in Norfolk Southern Co. (NYSE:NSC) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,678 shares of the railroad operator’s stock after selling 300 shares during the quarter. Fruth Investment Management’s holdings in Norfolk Southern were worth $2,156,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NSC. Cedar Wealth Management LLC acquired a new position in Norfolk Southern during the 1st quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new position in shares of Norfolk Southern in the 2nd quarter valued at about $27,000. Rise Advisors LLC acquired a new position in shares of Norfolk Southern during the first quarter worth about $34,000. Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern during the second quarter worth approximately $31,000. Finally, HWG Holdings LP acquired a new stake in Norfolk Southern in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Activity

In other news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy bought 700 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NSC. Sanford C. Bernstein boosted their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. TD Cowen increased their target price on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a report on Friday, July 26th. Citigroup initiated coverage on Norfolk Southern in a report on Wednesday, October 9th. They set a “buy” rating and a $294.00 price target for the company. Evercore ISI increased their price objective on Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $266.17.

Norfolk Southern Trading Up 1.5 %

NSC opened at $253.84 on Tuesday. The firm has a market cap of $57.35 billion, a price-to-earnings ratio of 40.88, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The business’s 50 day moving average is $246.92 and its two-hundred day moving average is $236.66. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping the consensus estimate of $2.86 by $0.20. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 earnings per share. On average, research analysts predict that Norfolk Southern Co. will post 11.79 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s payout ratio is currently 86.96%.

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.