1900 Wealth Management LLC Cuts Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

1900 Wealth Management LLC cut its position in Norfolk Southern Co. (NYSE:NSC) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,767 shares of the railroad operator’s stock after selling 64 shares during the period. 1900 Wealth Management LLC’s holdings in Norfolk Southern were worth $649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Highline Wealth Partners LLC purchased a new position in Norfolk Southern in the third quarter valued at approximately $25,000. Financial Life Planners acquired a new stake in Norfolk Southern during the 4th quarter valued at $27,000. Morse Asset Management Inc acquired a new position in Norfolk Southern in the 3rd quarter valued at $30,000. Coastline Trust Co acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth $32,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Norfolk Southern during the 3rd quarter valued at $33,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NSC has been the subject of several research analyst reports. TD Cowen boosted their price objective on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. UBS Group raised their price target on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays boosted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Wells Fargo & Company decreased their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Royal Bank of Canada upped their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $276.11.

Insider Activity at Norfolk Southern

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

Norfolk Southern Stock Down 0.5 %

Shares of NYSE:NSC opened at $251.33 on Friday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The business’s 50-day moving average is $247.53 and its 200-day moving average is $249.49. The company has a market capitalization of $56.86 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 2.35 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating 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%. Equities research analysts predict that Norfolk Southern Co. will post 13.07 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

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.