Burns J W & Co. Inc. NY Trims Stock Position in Norfolk Southern Co. (NYSE:NSC)

Burns J W & Co. Inc. NY decreased its position in Norfolk Southern Co. (NYSE:NSC) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,794 shares of the railroad operator’s stock after selling 1,547 shares during the period. Burns J W & Co. Inc. NY’s holdings in Norfolk Southern were worth $5,350,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern in the 3rd quarter worth about $25,000. Morse Asset Management Inc bought a new position in Norfolk Southern during the 3rd quarter worth approximately $30,000. HWG Holdings LP acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at about $31,000. Coastline Trust Co acquired a new stake in Norfolk Southern in the third quarter worth $32,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Norfolk Southern during the third quarter valued at $33,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE NSC traded up $3.54 during trading on Monday, reaching $237.48. The company had a trading volume of 861,906 shares, compared to its average volume of 950,982. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The business’s 50 day moving average price is $253.27 and its 200-day moving average price is $245.86. The stock has a market cap of $53.73 billion, a PE ratio of 22.30, a PEG ratio of 2.34 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.14. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.65 earnings per share. Analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NSC shares. UBS Group upped their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Bank of America increased their price target on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lifted their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein upped their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $275.68.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy acquired 350 shares of Norfolk Southern stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by corporate insiders.

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.