Commonwealth Equity Services LLC Has $29.59 Million Position in Norfolk Southern Co. (NYSE:NSC)

Commonwealth Equity Services LLC cut its position in Norfolk Southern Co. (NYSE:NSC) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,080 shares of the railroad operator’s stock after selling 3,640 shares during the period. Commonwealth Equity Services LLC owned about 0.06% of Norfolk Southern worth $29,591,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Financial Life Planners acquired a new stake in Norfolk Southern in the fourth quarter worth $27,000. Keystone Financial Group Inc. acquired a new stake in Norfolk Southern in the fourth quarter worth $27,000. Bank of Jackson Hole Trust acquired a new stake in Norfolk Southern in the fourth quarter worth $27,000. Vision Financial Markets LLC acquired a new stake in Norfolk Southern in the fourth quarter worth $28,000. Finally, Morse Asset Management Inc acquired a new stake in Norfolk Southern in the third quarter worth $30,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, 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 price of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Stock Performance

Shares of NSC opened at $232.75 on Friday. The firm has a 50-day moving average of $246.30 and a 200-day moving average of $250.52. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The company has a market cap of $52.70 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82.

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 analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, equities analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price on the stock. Benchmark reissued a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday, January 30th. Stephens increased their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Robert W. Baird increased their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company lowered their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $276.95.

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.