Allworth Financial LP Sells 93 Shares of Norfolk Southern Co. (NYSE:NSC)

Allworth Financial LP lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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.

A number of other large investors have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC bought a new position in shares of Norfolk Southern in the third quarter worth approximately $144,000. OLD National Bancorp IN increased its holdings in Norfolk Southern by 1.2% in the 3rd quarter. OLD National Bancorp IN now owns 4,165 shares of the railroad operator’s stock worth $1,035,000 after buying an additional 50 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Norfolk Southern by 4.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,314 shares of the railroad operator’s stock worth $2,812,000 after buying an additional 511 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Norfolk Southern during the 3rd quarter valued at about $53,000. Finally, Tull Financial Group Inc. bought a new stake in shares of Norfolk Southern in the third quarter worth approximately $829,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NYSE:NSC opened at $258.37 on Wednesday. The stock has a market cap of $58.45 billion, a PE ratio of 22.35, a P/E/G ratio of 2.32 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The business’s 50-day simple moving average is $245.33 and its two-hundred day simple moving average is $250.52. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly 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 return on equity of 20.04% and a net margin of 21.63%. As a group, analysts forecast that Norfolk Southern Co. will post 13.02 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on NSC. JPMorgan Chase & Co. increased their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Robert W. Baird raised their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Barclays upped their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Benchmark reissued a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a research report on Thursday, January 30th. Finally, Citigroup upped their price target on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and an average price target of $276.11.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gilbert H. Lamphere acquired 607 shares of the company’s stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now directly owns 2,487 shares in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

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.