Independent Advisor Alliance Sells 1,950 Shares of Norfolk Southern Co. (NYSE:NSC)

Independent Advisor Alliance decreased its position in Norfolk Southern Co. (NYSE:NSC) by 22.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,868 shares of the railroad operator’s stock after selling 1,950 shares during the period. Independent Advisor Alliance’s holdings in Norfolk Southern were worth $1,707,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC raised its stake in shares of Norfolk Southern by 3.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 22,144 shares of the railroad operator’s stock valued at $5,644,000 after acquiring an additional 771 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Norfolk Southern by 31.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 10,361 shares of the railroad operator’s stock valued at $2,641,000 after purchasing an additional 2,494 shares during the last quarter. Tidal Investments LLC lifted its holdings in Norfolk Southern by 34.1% in the 1st quarter. Tidal Investments LLC now owns 11,840 shares of the railroad operator’s stock worth $3,014,000 after buying an additional 3,008 shares during the period. Comerica Bank grew its position in shares of Norfolk Southern by 2.8% in the 1st quarter. Comerica Bank now owns 88,099 shares of the railroad operator’s stock worth $22,454,000 after buying an additional 2,372 shares during the last quarter. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Norfolk Southern during the first quarter valued at approximately $99,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $276.11 on Wednesday. The stock has a market cap of $62.47 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 2.55 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The firm’s 50-day moving average is $255.08 and its 200 day moving average is $240.63.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the business earned $2.65 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 1.96%. Norfolk Southern’s payout ratio is 50.70%.

Analyst Ratings Changes

A number of analysts recently commented on NSC shares. UBS Group raised their price target on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. TD Cowen boosted their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Susquehanna raised their price objective on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their target price on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of the company’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 acquisition, the director now owns 10,000 shares in the company, valued at $2,550,000. This represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction that occurred on 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 approximately $8,970,819.10. This represents a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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.