Norfolk Southern Corp. VP Sells $2,375,275 in Stock (NSC)
Norfolk Southern Corp. (NYSE:NSC) VP James A. Hixon sold 22,030 shares of the company’s stock on the open market in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $107.82, for a total value of $2,375,274.60. Following the sale, the vice president now directly owns 140,632 shares in the company, valued at approximately $15,162,942. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Norfolk Southern Corp. (NYSE:NSC) traded up 0.56% during mid-day trading on Thursday, hitting $108.56. 1,731,695 shares of the company’s stock traded hands. Norfolk Southern Corp. has a 52-week low of $73.73 and a 52-week high of $108.84. The stock has a 50-day moving average of $104.6 and a 200-day moving average of $99.31. The company has a market cap of $33.601 billion and a price-to-earnings ratio of 17.59.
Norfolk Southern Corp. (NYSE:NSC) last announced its 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. Analysts expect that Norfolk Southern Corp. will post $6.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Friday, August 1st will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, July 30th. This is an increase from Norfolk Southern Corp.’s previous quarterly dividend of $0.54.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target 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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