AdvisorNet Financial Inc Trims Position in Norfolk Southern Co. (NYSE:NSC)

AdvisorNet Financial Inc trimmed its position in Norfolk Southern Co. (NYSE:NSC) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 526 shares of the railroad operator’s stock after selling 101 shares during the period. AdvisorNet Financial Inc’s holdings in Norfolk Southern were worth $134,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC boosted its holdings in shares of Norfolk Southern by 662.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after buying an additional 106 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Norfolk Southern during the 1st quarter valued at $34,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Norfolk Southern in the 4th quarter worth $32,000. Creative Financial Designs Inc. ADV raised its holdings in Norfolk Southern by 317.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock worth $35,000 after purchasing an additional 111 shares during the period. Finally, Financial Connections Group Inc. bought a new stake in Norfolk Southern during the fourth quarter valued at about $34,000. 75.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NSC shares. TD Cowen lifted their price objective on Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. Stifel Nicolaus raised their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Wells Fargo & Company lowered their target price on shares of Norfolk Southern from $270.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday. The Goldman Sachs Group raised their price target on Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Susquehanna dropped their price objective on Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $262.89.

Norfolk Southern Stock Down 0.4 %

NYSE:NSC opened at $212.59 on Thursday. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The stock has a fifty day simple moving average of $228.77 and a 200-day simple moving average of $239.25. The company has a market cap of $48.03 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 2.01 and a beta of 1.31. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm earned $3.32 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. Analysts anticipate that Norfolk Southern Co. will post 11.88 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 2,000 shares of the stock in a transaction dated Friday, June 14th. The stock was purchased at an average price of $219.25 per share, with a total value of $438,500.00. Following the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at $1,534,750. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Sameh Fahmy acquired 2,000 shares of the stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the purchase, the director now owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Company 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.