Insider Selling: Norfolk Southern Corp. COO Sells 14,140 Shares of Stock (NSC)
Norfolk Southern Corp. (NYSE:NSC) COO Mark D. Manion unloaded 14,140 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $93.53, for a total value of $1,322,514.20. Following the completion of the transaction, the chief operating officer now directly owns 44,685 shares of the company’s stock, valued at approximately $4,179,388. The sale was disclosed in a legal filing with the SEC, which is available at this link.
NSC has been the subject of a number of recent research reports. Analysts at Wells Fargo & Co. upgraded shares of Norfolk Southern Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Monday. They now have a $86.00 price target on the stock, down previously from $92.59. Separately, analysts at Bank of America Corp. upgraded shares of Norfolk Southern Corp. to a “buy” rating in a research note to investors on Thursday, January 23rd. Finally, 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. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Norfolk Southern Corp. presently has an average rating of “Buy” and a consensus target price of $93.90.
Norfolk Southern Corp. (NYSE:NSC) traded up 1.33% during mid-day trading on Friday, hitting $94.81. The stock had a trading volume of 1,900,602 shares. Norfolk Southern Corp. has a one year low of $68.60 and a one year high of $95.10. The stock has a 50-day moving average of $91.18 and a 200-day moving average of $82.84. The company has a market cap of $29.285 billion and a P/E ratio of 15.49.
Norfolk Southern Corp. (NYSE:NSC) last released its earnings data on Wednesday, January 22nd. The company reported $1.64 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts predict that Norfolk Southern Corp. will post $6.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 10th. Stockholders of record on Friday, February 7th will be paid a dividend of 0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, February 5th. This is a boost from Norfolk Southern Corp.’s previous quarterly dividend of $0.52.
Norfolk Southern Corporation (NYSE:NSC) is a Virginia based company that controls a railroad, Norfolk Southern Railway Company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.