Axxcess Wealth Management LLC Decreases Position in Norfolk Southern Co. (NYSE:NSC)

Axxcess Wealth Management LLC lowered its position in Norfolk Southern Co. (NYSE:NSC) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,091 shares of the railroad operator’s stock after selling 259 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Norfolk Southern were worth $3,072,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners purchased a new position in Norfolk Southern during the 4th quarter valued at about $27,000. Keystone Financial Group Inc. purchased a new position in shares of Norfolk Southern during the 4th quarter worth approximately $27,000. Bank of Jackson Hole Trust acquired a new position in shares of Norfolk Southern during the 4th quarter worth approximately $27,000. Morse Asset Management Inc purchased a new stake in Norfolk Southern in the 3rd quarter valued at approximately $30,000. Finally, Vision Financial Markets LLC acquired a new stake in Norfolk Southern during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NSC shares. Stephens boosted their price target on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Benchmark restated a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Wells Fargo & Company lowered their price target 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. Loop Capital downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and reduced their price objective for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, Royal Bank of Canada lifted their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.95.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $234.37 on Wednesday. The company’s fifty day simple moving average is $246.19 and its 200-day simple moving average is $250.25. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The company has a market cap of $53.07 billion, a PE ratio of 20.27, a P/E/G ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data 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, equities research analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.30%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

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.