Norfolk Southern Co. (NYSE:NSC) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc reduced its position in Norfolk Southern Co. (NYSE:NSC) by 16.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Norfolk Southern in the fourth quarter worth about $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 worth $26,454,000 after purchasing an additional 75,729 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at approximately $1,444,000. Cerity Partners LLC raised its stake in shares of Norfolk Southern by 37.1% during the fourth 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 in the last quarter. Finally, Catalytic Wealth RIA LLC bought a new stake in shares of Norfolk Southern during the 4th quarter worth about $608,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Activity

In related news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of Norfolk Southern stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $219.25 per share, with a total value of $438,500.00. Following the acquisition, the director now owns 7,000 shares in the company, valued at approximately $1,534,750. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern 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 Stock Performance

Shares of NSC stock opened at $212.59 on Thursday. The firm has a market cap of $48.03 billion, a PE ratio of 34.23, a P/E/G ratio of 2.01 and a beta of 1.31. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The company’s fifty day simple moving average is $228.77 and its 200-day simple moving average is $239.25. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results 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). The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $3.32 EPS. Equities research analysts expect that Norfolk Southern Co. will post 11.88 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were given a $1.35 dividend. 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 2.54%. Norfolk Southern’s payout ratio is 86.96%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NSC. Stifel Nicolaus boosted their price target on shares of Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. UBS Group dropped their price target on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Jefferies Financial Group initiated coverage on Norfolk Southern in a research report on Monday, April 8th. They set a “buy” rating and a $300.00 price objective for the company. Susquehanna dropped their target price on Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Benchmark reissued a “buy” rating and issued a $277.00 price target on shares of Norfolk Southern in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and an average target price of $262.89.

About Norfolk Southern

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.