Saturna Capital Corp Sells 200 Shares of Norfolk Southern Co. (NYSE:NSC)

Saturna Capital Corp decreased its position in Norfolk Southern Co. (NYSE:NSC) by 4.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,095 shares of the railroad operator’s stock after selling 200 shares during the period. Saturna Capital Corp’s holdings in Norfolk Southern were worth $1,018,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $25,000. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 1st quarter worth approximately $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Norfolk Southern during the 2nd quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $33,000. Finally, Financial Connections Group Inc. bought a new stake in Norfolk Southern in the 2nd quarter valued at $31,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America increased their price target on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Stephens reaffirmed an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a report on Wednesday, October 23rd. Royal Bank of Canada upped their price objective on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, TD Cowen upped their price objective on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus price target of $274.89.

Norfolk Southern Stock Performance

NYSE:NSC opened at $268.11 on Wednesday. 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 market capitalization of $60.66 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.57 and a beta of 1.30. Norfolk Southern Co. has a twelve month low of $201.44 and a twelve month high of $277.60. The stock’s 50-day simple moving average is $252.33 and its 200 day simple moving average is $238.24.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (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 company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the company earned $2.65 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Norfolk Southern Co. will post 11.81 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.01%. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Insider Buying and Selling

In related news, Director Sameh Fahmy bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, with a total value 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. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by 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.