Apollon Wealth Management LLC Sells 592 Shares of Norfolk Southern Co. (NYSE:NSC)

Apollon Wealth Management LLC trimmed its position in Norfolk Southern Co. (NYSE:NSC) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,003 shares of the railroad operator’s stock after selling 592 shares during the quarter. Apollon Wealth Management LLC’s holdings in Norfolk Southern were worth $2,237,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Norfolk Southern by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after purchasing an additional 1,088,072 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Norfolk Southern by 2.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,986,180 shares of the railroad operator’s stock valued at $1,525,699,000 after purchasing an additional 124,362 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of Norfolk Southern by 1.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 3,789,436 shares of the railroad operator’s stock valued at $813,554,000 after buying an additional 37,386 shares in the last quarter. American Century Companies Inc. boosted its stake in Norfolk Southern by 17.3% in the second 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 in the last quarter. Finally, Boston Partners grew its stake in Norfolk Southern by 157.1% during the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after buying an additional 1,766,135 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Sameh Fahmy purchased 1,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were 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 of the company’s stock, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sameh Fahmy acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays upped their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America raised their target price 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. Evercore ISI lowered their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein lifted their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.68.

Norfolk Southern Trading Up 0.7 %

NSC opened at $269.26 on Thursday. The business’s 50-day simple moving average is $252.33 and its 200-day simple moving average is $238.24. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The company has a market cap of $60.92 billion, a P/E ratio of 25.28, a PEG ratio of 2.54 and a beta of 1.30. Norfolk Southern Co. has a one year low of $201.44 and a one year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the business posted $2.65 earnings per share. Norfolk Southern’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

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.