Insider Selling: Norfolk Southern Corp. VP Unloads 1,000 Shares of Stock (NSC)
Norfolk Southern Corp. (NYSE:NSC) VP Deborah H. Butler sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $99.15, for a total transaction of $99,150.00. Following the transaction, the vice president now directly owns 47,752 shares in the company, valued at approximately $4,734,611. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Norfolk Southern Corp. (NYSE:NSC) traded up 1.22% during mid-day trading on Thursday, hitting $100.39. 1,092,010 shares of the company’s stock traded hands. Norfolk Southern Corp. has a 1-year low of $70.27 and a 1-year high of $101.53. The stock’s 50-day moving average is $96.82 and its 200-day moving average is $93.2. The company has a market cap of $31.085 billion and a price-to-earnings ratio of 17.08.
Norfolk Southern Corp. (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.15 by $0.02. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the company posted $1.22 earnings per share. Norfolk Southern Corp.’s revenue was down 1.8% compared to the same quarter last year. On average, analysts predict that Norfolk Southern Corp. will post $6.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 10th. Investors of record on Friday, May 2nd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, April 30th.
A number of analysts have recently weighed in on NSC shares. Analysts at Bank of America reiterated a “buy” rating on shares of Norfolk Southern Corp. in a research note on Monday. They now have a $103.00 price target on the stock, down previously from $113.00. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Norfolk Southern Corp. in a research note on Thursday, April 24th. They now have a $109.00 price target on the stock. Finally, analysts at Macquarie initiated coverage on shares of Norfolk Southern Corp. in a research note on Thursday, April 10th. They set a “neutral” rating and a $99.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $100.10.
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.