Cinctive Capital Management LP Has $4.07 Million Position in Norfolk Southern Co. (NYSE:NSC)

Cinctive Capital Management LP cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 79.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,362 shares of the railroad operator’s stock after selling 62,808 shares during the quarter. Cinctive Capital Management LP’s holdings in Norfolk Southern were worth $4,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NSC. Highline Wealth Partners LLC acquired a new position in shares of Norfolk Southern during the third quarter worth $25,000. 1620 Investment Advisors Inc. bought a new stake in Norfolk Southern during the 2nd quarter worth $27,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern during the 2nd quarter worth $31,000. HWG Holdings LP acquired a new position in Norfolk Southern in the 2nd quarter worth about $31,000. Finally, Coastline Trust Co bought a new position in Norfolk Southern in the third quarter valued at about $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NSC shares. Wells Fargo & Company upped their price objective on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein upped their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Barclays lifted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Loop Capital increased their price objective on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus raised their target price on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of Norfolk Southern stock in a transaction dated Thursday, October 24th. The stock was purchased at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. This represents a 11.11 % 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. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 59.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $272.60 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The firm has a 50 day moving average of $256.63 and a 200-day moving average of $241.57. The company has a market cap of $61.67 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.31.

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, beating the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.65 earnings per share. On average, equities analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 1.98%. Norfolk Southern’s payout ratio is currently 50.70%.

Norfolk Southern Company 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.