Concurrent Investment Advisors LLC Has $2.67 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

Concurrent Investment Advisors LLC reduced its holdings in Norfolk Southern Co. (NYSE:NSC) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,735 shares of the railroad operator’s stock after selling 300 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Norfolk Southern were worth $2,668,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new stake in Norfolk Southern in the 3rd quarter valued at about $25,000. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern during the first quarter valued at approximately $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern in the 2nd quarter worth $27,000. Financial Connections Group Inc. acquired a new stake in Norfolk Southern in the 2nd quarter valued at $31,000. Finally, HWG Holdings LP bought a new stake in Norfolk Southern during the 2nd quarter valued at $31,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NSC has been the topic of several recent research reports. Stifel Nicolaus raised their price target 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. Loop Capital raised their target price on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stephens reiterated an “equal weight” rating and set a $263.00 price target on shares of Norfolk Southern in a report on Wednesday, October 23rd. Barclays increased their price target on Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Bank of America lifted their price objective on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $274.16.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $270.88 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The stock has a fifty day simple moving average of $251.09 and a two-hundred day simple moving average of $237.45. Norfolk Southern Co. has a 1-year low of $193.15 and a 1-year high of $277.60. The firm has a market cap of $61.28 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 2.35 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company earned $2.65 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts anticipate that Norfolk Southern Co. will post 11.81 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

Insider Activity at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Sameh Fahmy acquired 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the company’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 transaction of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate 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.