Insider Selling: Norfolk Southern Corp. CMO Sells $3,407,789 in Stock (NSC)
Norfolk Southern Corp. (NYSE:NSC) CMO Donald W. Seale sold 31,983 shares of Norfolk Southern Corp. stock on the open market in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $106.55, for a total transaction of $3,407,788.65. Following the completion of the transaction, the chief marketing officer now directly owns 194,857 shares of the company’s stock, valued at approximately $20,762,013. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Norfolk Southern Corp. (NYSE:NSC) traded up 0.22% on Friday, hitting $106.81. 234,595 shares of the company’s stock traded hands. Norfolk Southern Corp. has a 1-year low of $71.86 and a 1-year high of $108.84. The stock’s 50-day moving average is $104.3 and its 200-day moving average is $98.91. The company has a market cap of $33.059 billion and a P/E ratio of 17.36.
Norfolk Southern Corp. (NYSE:NSC) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.08. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.00 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue for the quarter was up 8.6% 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 Wednesday, September 10th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, July 30th. This is a positive change from Norfolk Southern Corp.’s previous quarterly dividend of $0.54.
A number of research firms have recently commented on NSC. Analysts at Zacks reiterated a “neutral” rating on shares of Norfolk Southern Corp. in a research note on Friday, August 22nd. They now have a $110.00 price target on the stock. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Norfolk Southern Corp. in a research note on Thursday, July 24th. They now have a $113.00 price target on the stock, up previously from $109.00. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Norfolk Southern Corp. in a research note on Thursday, July 24th. They now have a $120.00 price target on the stock, up previously from $115.00. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $107.00.
Norfolk Southern Corporation (NYSE:NSC) is a Virginia based company that controls a railroad, Norfolk Southern Railway Company.
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