Allworth Financial LP Reduces Stock Position in Norfolk Southern Co. (NYSE:NSC)

Allworth Financial LP reduced its stake in Norfolk Southern Co. (NYSE:NSC) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,603 shares of the railroad operator’s stock after selling 93 shares during the period. Allworth Financial LP’s holdings in Norfolk Southern were worth $2,418,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Lake Street Advisors Group LLC boosted its stake in Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after purchasing an additional 41 shares during the period. Raab & Moskowitz Asset Management LLC boosted its position in shares of Norfolk Southern by 2.4% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after acquiring an additional 41 shares during the period. Archer Investment Corp grew its stake in Norfolk Southern by 2.3% during the third quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock valued at $481,000 after acquiring an additional 43 shares in the last quarter. Albert D Mason Inc. increased its holdings in Norfolk Southern by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after acquiring an additional 46 shares during the period. Finally, Maia Wealth LLC lifted its stake in Norfolk Southern by 4.7% in the 3rd quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock worth $264,000 after purchasing an additional 47 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on NSC shares. Benchmark reaffirmed a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a report on Thursday, January 30th. UBS Group upped their target price on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird lifted their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Wells Fargo & Company cut their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Citigroup raised their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $276.11.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $258.37 on Wednesday. The firm has a market cap of $58.45 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. The company’s fifty day simple moving average is $245.33 and its two-hundred day simple moving average is $250.52. 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 posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. As a group, equities analysts expect that Norfolk Southern Co. will post 13.02 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gilbert H. Lamphere acquired 607 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was purchased at an average price 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 represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

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.