Good Life Advisors LLC Cuts Stock Position in Norfolk Southern Co. (NYSE:NSC)

Good Life Advisors LLC trimmed its position in shares of Norfolk Southern Co. (NYSE:NSCGet Rating) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,158 shares of the railroad operator’s stock after selling 216 shares during the period. Good Life Advisors LLC’s holdings in Norfolk Southern were worth $642,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC increased its position in Norfolk Southern by 1.4% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 2,628 shares of the railroad operator’s stock worth $629,000 after purchasing an additional 37 shares in the last quarter. Equitable Trust Co. increased its position in Norfolk Southern by 1.7% during the 4th quarter. Equitable Trust Co. now owns 2,261 shares of the railroad operator’s stock worth $674,000 after purchasing an additional 38 shares in the last quarter. First Bank & Trust increased its position in Norfolk Southern by 2.9% during the 4th quarter. First Bank & Trust now owns 1,369 shares of the railroad operator’s stock worth $407,000 after purchasing an additional 38 shares in the last quarter. Foster & Motley Inc. increased its position in Norfolk Southern by 2.9% during the 4th quarter. Foster & Motley Inc. now owns 1,377 shares of the railroad operator’s stock worth $410,000 after purchasing an additional 39 shares in the last quarter. Finally, Venture Visionary Partners LLC increased its position in Norfolk Southern by 0.9% during the 4th quarter. Venture Visionary Partners LLC now owns 4,567 shares of the railroad operator’s stock worth $1,359,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 73.63% of the company’s stock.

In other Norfolk Southern news, President Alan H. Shaw sold 1,000 shares of Norfolk Southern stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $256.70, for a total transaction of $256,700.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven F. Leer sold 700 shares of Norfolk Southern stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $265.51, for a total value of $185,857.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Norfolk Southern stock traded up $3.26 during midday trading on Friday, hitting $249.32. 1,116,431 shares of the company were exchanged, compared to its average volume of 1,423,140. The company’s fifty day moving average price is $265.24 and its 200-day moving average price is $274.53. The company has a market cap of $59.42 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.70 and a beta of 1.36. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.96 and a quick ratio of 0.87. Norfolk Southern Co. has a fifty-two week low of $238.62 and a fifty-two week high of $299.20.

Norfolk Southern (NYSE:NSCGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The railroad operator reported $2.93 EPS for the quarter, topping the consensus estimate of $2.91 by $0.02. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.83 billion. Norfolk Southern had a return on equity of 21.95% and a net margin of 26.58%. Norfolk Southern’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.66 EPS. On average, analysts expect that Norfolk Southern Co. will post 13.81 EPS for the current fiscal year.

Norfolk Southern announced that its Board of Directors has authorized a share buyback plan on Tuesday, March 29th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the railroad operator to purchase up to 14.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Friday, May 6th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, May 5th. Norfolk Southern’s dividend payout ratio (DPR) is presently 40.03%.

A number of analysts recently commented on the company. Zacks Investment Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $299.00 price objective for the company in a research report on Tuesday, March 29th. Susquehanna decreased their price target on Norfolk Southern from $356.00 to $350.00 and set a “positive” rating on the stock in a research note on Thursday, April 7th. The Goldman Sachs Group raised their price target on Norfolk Southern from $313.00 to $320.00 in a research note on Wednesday, January 26th. JPMorgan Chase & Co. decreased their price target on Norfolk Southern from $318.00 to $308.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th. Finally, Susquehanna Bancshares decreased their price target on Norfolk Southern from $356.00 to $350.00 in a research note on Thursday, April 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Norfolk Southern presently has an average rating of “Buy” and a consensus price target of $309.41.

About Norfolk Southern (Get Rating)

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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

Featured Stories

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Co. (NYSE:NSCGet Rating).

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.