Kovack Advisors Inc. Has $291,000 Stake in Norfolk Southern Co. (NYSE:NSC)

Kovack Advisors Inc. decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 14.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,143 shares of the railroad operator’s stock after selling 196 shares during the quarter. Kovack Advisors Inc.’s holdings in Norfolk Southern were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of NSC. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Norfolk Southern in the 4th quarter valued at $2,933,000. State of Tennessee Treasury Department grew its position in Norfolk Southern by 209.3% in the 4th quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock valued at $26,454,000 after purchasing an additional 75,729 shares during the period. BKM Wealth Management LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at $1,444,000. Cerity Partners LLC grew its position in Norfolk Southern by 37.1% in the 4th quarter. Cerity Partners LLC now owns 150,998 shares of the railroad operator’s stock valued at $35,692,000 after purchasing an additional 40,861 shares during the period. Finally, Catalytic Wealth RIA LLC purchased a new position in Norfolk Southern during the 4th quarter worth $608,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the acquisition, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sameh Fahmy acquired 2,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at $1,534,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Claude Mongeau acquired 5,650 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was purchased at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NSC shares. Loop Capital lifted their price objective on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Royal Bank of Canada raised shares of Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 price objective on the stock in a report on Thursday, May 23rd. Stifel Nicolaus lifted their target price on Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Susquehanna lowered their target price on Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company lowered their target price on Norfolk Southern from $270.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.89.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $216.30 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The stock has a 50 day moving average price of $225.50 and a two-hundred day moving average price of $238.60. The company has a market capitalization of $48.86 billion, a P/E ratio of 34.83, a PEG ratio of 2.04 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last announced 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 company 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 posted $3.32 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts expect that Norfolk Southern Co. will post 11.88 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.50%. Norfolk Southern’s dividend payout ratio is presently 86.96%.

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.