Cetera Investment Advisers Sells 3,637 Shares of Norfolk Southern Co. (NYSE:NSC)

Cetera Investment Advisers lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 6.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,490 shares of the railroad operator’s stock after selling 3,637 shares during the period. Cetera Investment Advisers’ holdings in Norfolk Southern were worth $11,269,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Cedar Wealth Management LLC bought a new stake in Norfolk Southern during the first quarter valued at approximately $27,000. 1620 Investment Advisors Inc. purchased a new position in shares of Norfolk Southern in the 2nd quarter valued at approximately $27,000. Financial Connections Group Inc. purchased a new position in Norfolk Southern during the second quarter valued at $31,000. HWG Holdings LP purchased a new position in Norfolk Southern during the second quarter valued at $31,000. Finally, Rise Advisors LLC purchased a new position in Norfolk Southern during the first quarter valued at $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In other news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard H. Anderson acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average cost of $247.48 per share, with a total value of $494,960.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at $742,440. This trade represents a 200.00 % 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.

Analyst Ratings Changes

Several research analysts have recently weighed in on NSC shares. Stifel Nicolaus boosted their price target on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Susquehanna upped their price target on Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday. Sanford C. Bernstein cut their target price on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Royal Bank of Canada increased their price target on Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and an average target price of $266.56.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $247.92 on Friday. The stock’s 50 day moving average price is $246.80 and its 200 day moving average price is $237.05. The firm has a market capitalization of $56.01 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the business earned $2.95 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Norfolk Southern Co. will post 11.8 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were paid 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, August 2nd. Norfolk Southern’s dividend payout ratio is currently 86.96%.

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.