Roberts Glore & Co. Inc. IL Sells 204 Shares of Norfolk Southern Corporation $NSC

Roberts Glore & Co. Inc. IL trimmed its position in Norfolk Southern Corporation (NYSE:NSC) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,439 shares of the railroad operator’s stock after selling 204 shares during the quarter. Norfolk Southern accounts for 0.9% of Roberts Glore & Co. Inc. IL’s holdings, making the stock its 27th largest holding. Roberts Glore & Co. Inc. IL’s holdings in Norfolk Southern were worth $2,928,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Morningstar Investment Management LLC purchased a new stake in shares of Norfolk Southern during the second quarter valued at about $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Norfolk Southern by 682.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock worth $14,337,000 after acquiring an additional 48,850 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Norfolk Southern by 10.4% during the second quarter. Teacher Retirement System of Texas now owns 116,795 shares of the railroad operator’s stock valued at $29,896,000 after acquiring an additional 10,990 shares during the last quarter. Nordea Investment Management AB boosted its stake in Norfolk Southern by 6.4% in the second quarter. Nordea Investment Management AB now owns 19,598 shares of the railroad operator’s stock valued at $5,012,000 after acquiring an additional 1,178 shares in the last quarter. Finally, GC Wealth Management RIA LLC grew its holdings in Norfolk Southern by 52.5% in the second quarter. GC Wealth Management RIA LLC now owns 4,441 shares of the railroad operator’s stock worth $1,137,000 after purchasing an additional 1,528 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on NSC shares. UBS Group decreased their price objective on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a report on Friday, October 24th. Loop Capital upped their target price on Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research report on Tuesday, September 16th. Susquehanna increased their price target on Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. BMO Capital Markets raised their price target on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a report on Friday, October 24th. Finally, Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Monday, October 27th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Hold” and an average target price of $299.70.

Norfolk Southern Trading Up 0.8%

Shares of NYSE:NSC opened at $284.23 on Friday. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $302.24. The stock has a market cap of $63.78 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.52 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $286.13 and a 200-day moving average price of $267.30.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the company earned $3.25 EPS. Norfolk Southern’s quarterly revenue was up .0% on a year-over-year basis. Equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s dividend payout ratio is 41.19%.

Insiders Place Their Bets

In other Norfolk Southern news, Director Richard H. Anderson purchased 2,600 shares of the stock in a transaction on Monday, October 27th. The shares were bought at an average cost of $281.86 per share, with a total value of $732,836.00. Following the completion of the acquisition, the director owned 7,000 shares in the company, valued at $1,973,020. This trade represents a 59.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sameh Fahmy purchased 1,650 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were bought at an average cost of $282.97 per share, for a total transaction of $466,900.50. Following the completion of the transaction, the director directly owned 12,000 shares in the company, valued at $3,395,640. This trade represents a 15.94% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is owned by corporate insiders.

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.