Avantax Advisory Services Inc. Decreases Position in Norfolk Southern Co. (NYSE:NSC)

Avantax Advisory Services Inc. lowered its position in Norfolk Southern Co. (NYSE:NSC) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,561 shares of the railroad operator’s stock after selling 53 shares during the period. Avantax Advisory Services Inc.’s holdings in Norfolk Southern were worth $3,887,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Norfolk Southern by 3.6% in the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after purchasing an additional 8,844 shares in the last quarter. Caprock Group LLC acquired a new stake in Norfolk Southern during the 4th quarter valued at $1,796,000. Grandview Asset Management LLC purchased a new position in Norfolk Southern during the fourth quarter worth $918,000. Dorsey & Whitney Trust CO LLC lifted its position in shares of Norfolk Southern by 2.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator’s stock valued at $1,333,000 after acquiring an additional 128 shares in the last quarter. Finally, Garner Asset Management Corp increased its position in Norfolk Southern by 3.2% during the 3rd quarter. Garner Asset Management Corp now owns 3,168 shares of the railroad operator’s stock worth $787,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $232.75 on Friday. The business’s 50-day simple moving average is $246.30 and its 200 day simple moving average is $250.52. The company has a market cap of $52.70 billion, a P/E ratio of 20.13, a PEG ratio of 2.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Analysts Set New Price Targets

NSC has been the topic of several analyst reports. Wells Fargo & Company decreased their price target on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Stephens lifted 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 set a $285.00 price target on shares of Norfolk Southern in a research note on Thursday, January 30th. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price objective for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Finally, Susquehanna reduced their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.95.

Insider Activity at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was bought 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 of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by company insiders.

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.