Private Advisor Group LLC Cuts Stake in Norfolk Southern Co. (NYSE:NSC)

Private Advisor Group LLC cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,702 shares of the railroad operator’s stock after selling 390 shares during the quarter. Private Advisor Group LLC’s holdings in Norfolk Southern were worth $4,624,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC raised its stake in shares of Norfolk Southern by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after acquiring an additional 41 shares in the last quarter. Raab & Moskowitz Asset Management LLC increased its holdings in Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after purchasing an additional 41 shares during the period. Archer Investment Corp increased its holdings in Norfolk Southern by 2.3% during the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after purchasing an additional 43 shares during the period. Albert D Mason Inc. raised its position in Norfolk Southern by 0.7% in the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock valued at $1,615,000 after purchasing an additional 46 shares in the last quarter. Finally, Maia Wealth LLC boosted its stake in shares of Norfolk Southern by 4.7% in the 3rd quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock valued at $264,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In other news, Director Sameh Fahmy acquired 350 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the transaction, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gilbert H. Lamphere acquired 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the transaction, the director now owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Norfolk Southern Stock Performance

Shares of NSC opened at $247.84 on Friday. The company’s 50 day simple moving average is $245.46 and its 200-day simple moving average is $250.71. The firm has a market cap of $56.12 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, equities analysts predict that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stephens upped their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Benchmark reissued a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Citigroup boosted their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada raised their price target on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and an average price target of $276.11.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.