Tyche Wealth Partners LLC Has $541,000 Stock Position in Norfolk Southern Co. (NYSE:NSC)

Tyche Wealth Partners LLC decreased its stake in Norfolk Southern Co. (NYSE:NSC) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,176 shares of the railroad operator’s stock after selling 81 shares during the period. Tyche Wealth Partners LLC’s holdings in Norfolk Southern were worth $541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cedar Wealth Management LLC acquired a new stake in Norfolk Southern during the first quarter worth $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern in the second quarter valued at about $27,000. Financial Connections Group Inc. bought a new position in shares of Norfolk Southern in the second quarter valued at about $31,000. HWG Holdings LP bought a new position in shares of Norfolk Southern in the second quarter valued at about $31,000. Finally, Hobbs Group Advisors LLC bought a new stake in Norfolk Southern during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NYSE:NSC traded up $0.40 during trading hours on Tuesday, hitting $253.99. The company’s stock had a trading volume of 189,545 shares, compared to its average volume of 1,252,951. The stock has a fifty day simple moving average of $249.47 and a 200-day simple moving average of $236.82. The company has a market capitalization of $57.46 billion, a P/E ratio of 23.81, a PEG ratio of 2.38 and a beta of 1.31. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. Norfolk Southern Co. has a twelve month low of $184.62 and a twelve month high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $2.65 earnings per share. On average, analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.13%. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy bought 700 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sameh Fahmy bought 700 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. The trade was a 0.00 % 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.

Analyst Ratings Changes

Several research firms have recently issued reports on NSC. Bank of America boosted their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley restated an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a research report on Monday, July 8th. Stifel Nicolaus boosted their target price on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. boosted their target price on Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Benchmark boosted their target price on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

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.