Mission Wealth Management LP Has $928,000 Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Mission Wealth Management LP reduced its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 12.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,954 shares of the railroad operator’s stock after selling 548 shares during the quarter. Mission Wealth Management LP’s holdings in Norfolk Southern were worth $928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Financial Life Planners bought a new stake in Norfolk Southern during the fourth quarter worth about $27,000. Keystone Financial Group Inc. acquired a new stake in Norfolk Southern in the fourth quarter valued at $27,000. Bank of Jackson Hole Trust bought a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Morse Asset Management Inc acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $30,000. Finally, Coastline Trust Co bought a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Norfolk Southern

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

Wall Street Analyst Weigh In

A number of research firms recently commented on NSC. Citigroup lifted their price target on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Barclays boosted their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Robert W. Baird raised their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Benchmark reiterated a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Finally, Susquehanna cut their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern Price Performance

NSC stock opened at $239.18 on Wednesday. The company’s 50-day moving average price is $246.28 and its two-hundred day moving average price is $250.93. The firm has a market cap of $54.16 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.31 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating 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%. On average, analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

About Norfolk Southern

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.