Norfolk Southern Corp. (NSC) Chairman James A. Squires Sells 3,024 Shares

Norfolk Southern Corp. (NYSE:NSC) Chairman James A. Squires sold 3,024 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total value of $619,043.04. The sale was disclosed in a document filed with the SEC, which is available through this link.

Shares of NSC traded down $0.99 during trading hours on Friday, reaching $198.96. The stock had a trading volume of 42,984 shares, compared to its average volume of 1,255,211. Norfolk Southern Corp. has a 12 month low of $138.65 and a 12 month high of $211.46. The stock has a market capitalization of $54.43 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 0.67.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.34. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. Norfolk Southern’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.93 EPS. As a group, equities analysts forecast that Norfolk Southern Corp. will post 10.82 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is currently 36.17%.

A number of large investors have recently made changes to their positions in the stock. Joseph P. Lucia & Associates LLC bought a new position in shares of Norfolk Southern in the 1st quarter worth about $25,000. Bruderman Asset Management LLC bought a new position in shares of Norfolk Southern in the 4th quarter worth about $26,000. Intercontinental Wealth Advisors LLC bought a new position in shares of Norfolk Southern in the 4th quarter worth about $27,000. Pinnacle Bank bought a new position in shares of Norfolk Southern in the 4th quarter worth about $33,000. Finally, PRW Wealth Management LLC bought a new position in shares of Norfolk Southern in the 4th quarter worth about $36,000. 73.03% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on NSC shares. Argus increased their price target on Norfolk Southern from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Morgan Stanley raised their target price on Norfolk Southern from $133.00 to $138.00 and gave the company an “underweight” rating in a report on Monday, April 29th. Deutsche Bank downgraded Norfolk Southern from a “buy” rating to a “hold” rating and set a $177.00 target price on the stock. in a report on Friday, January 25th. Cowen reaffirmed an “outperform” rating and issued a $230.00 target price (up previously from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. Finally, Loop Capital increased their price target on Norfolk Southern to $197.00 and gave the company a “buy” rating in a research note on Friday, January 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $202.06.

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About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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