Norfolk Southern Corp. CEO Unloads $6,671,557 in Stock (NSC)
Norfolk Southern Corp. (NYSE:NSC) CEO Charles W. Moorman sold 72,977 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $91.42, for a total transaction of $6,671,557.34. Following the transaction, the chief executive officer now directly owns 300,224 shares in the company, valued at approximately $27,446,478. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Norfolk Southern Corp. (NYSE:NSC) traded up 3.30% on Thursday, hitting $92.76. The stock had a trading volume of 2,081,285 shares. Norfolk Southern Corp. has a 1-year low of $68.18 and a 1-year high of $95.10. The stock has a 50-day moving average of $90.60 and a 200-day moving average of $82.23. The company has a market cap of $28.654 billion and a price-to-earnings ratio of 15.77.
Norfolk Southern Corp. (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.50 by $0.14. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the company posted $1.30 earnings per share. Norfolk Southern Corp.’s revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that Norfolk Southern Corp. will post $5.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Investors of record on Friday, February 7th will be given a dividend of 0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Norfolk Southern Corp.’s previous quarterly dividend of $0.52.
NSC has been the subject of a number of recent research reports. Analysts at Merrill Lynch upgraded shares of Norfolk Southern Corp. to a “buy” rating in a research note to investors on Thursday, January 23rd. Separately, analysts at Barclays raised their price target on shares of Norfolk Southern Corp. from $93.00 to $101.00 in a research note to investors on Thursday, January 23rd. They now have an “equal weight” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Norfolk Southern Corp. from $91.00 to $96.00 in a research note to investors on Thursday, January 23rd. They now have a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $94.14.
Norfolk Southern Corporation (NYSE:NSC) is a Virginia based company that controls a railroad, Norfolk Southern Railway Company.
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