ProShare Advisors LLC Sells 1,846 Shares of Norfolk Southern Corporation $NSC

ProShare Advisors LLC lowered its holdings in Norfolk Southern Corporation (NYSE:NSC) by 4.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,824 shares of the railroad operator’s stock after selling 1,846 shares during the period. ProShare Advisors LLC’s holdings in Norfolk Southern were worth $12,306,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NSC. Diversify Advisory Services LLC raised its position in shares of Norfolk Southern by 1.3% during the third quarter. Diversify Advisory Services LLC now owns 2,824 shares of the railroad operator’s stock worth $917,000 after purchasing an additional 36 shares during the period. Foster Group Inc. boosted its position in shares of Norfolk Southern by 3.1% in the 2nd quarter. Foster Group Inc. now owns 1,405 shares of the railroad operator’s stock valued at $442,000 after purchasing an additional 42 shares during the period. Avestar Capital LLC increased its stake in Norfolk Southern by 3.8% in the 3rd quarter. Avestar Capital LLC now owns 1,212 shares of the railroad operator’s stock worth $375,000 after purchasing an additional 44 shares in the last quarter. AdvisorNet Financial Inc increased its stake in Norfolk Southern by 3.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 1,453 shares of the railroad operator’s stock worth $470,000 after purchasing an additional 45 shares in the last quarter. Finally, Howard Financial Services LTD. raised its holdings in Norfolk Southern by 3.1% during the 3rd quarter. Howard Financial Services LTD. now owns 1,510 shares of the railroad operator’s stock worth $467,000 after buying an additional 46 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $341.19 on Wednesday. The company has a market capitalization of $76.64 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 5.17 and a beta of 1.20. Norfolk Southern Corporation has a 1-year low of $277.80 and a 1-year high of $358.60. The company has a current ratio of 0.90, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The stock’s fifty day simple moving average is $326.03 and its 200-day simple moving average is $315.44.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.16. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the prior year, the business earned $3.30 EPS. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, sell-side analysts predict that Norfolk Southern Corporation will post 12.80 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be issued a $1.35 dividend. The ex-dividend date is Friday, November 6th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio is currently 45.26%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Barclays lifted their target price on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Norfolk Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. BMO Capital Markets boosted their price target on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, UBS Group restated a “neutral” rating on shares of Norfolk Southern in a research report on Monday, October 26th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $348.81.

About Norfolk Southern

Norfolk Southern Corporation (NYSE:NSC) is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.