Norfolk Southern Co. (NYSE:NSC) Stock Holdings Lessened by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 2.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,186 shares of the railroad operator’s stock after selling 240 shares during the period. Kingsview Wealth Management LLC’s holdings in Norfolk Southern were worth $1,935,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NSC. WMG Financial Advisors LLC acquired a new stake in shares of Norfolk Southern during the 4th quarter valued at about $210,000. Jag Capital Management LLC bought a new stake in Norfolk Southern in the fourth quarter worth approximately $213,000. Apexium Financial LP acquired a new position in shares of Norfolk Southern during the 4th quarter worth $23,664,000. Foundations Investment Advisors LLC raised its holdings in shares of Norfolk Southern by 6.7% during the 4th quarter. Foundations Investment Advisors LLC now owns 2,514 shares of the railroad operator’s stock valued at $642,000 after purchasing an additional 158 shares in the last quarter. Finally, Eudaimonia Partners LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at $213,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

NSC has been the topic of several recent research reports. Barclays cut their target price on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. The Goldman Sachs Group upped their target price on Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Sanford C. Bernstein upgraded shares of Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price objective for the company in a research note on Monday, January 22nd. Loop Capital raised their target price on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and an average target price of $261.78.

Insider Activity

In related news, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Trading Down 0.5 %

Shares of NSC stock traded down $1.08 on Friday, reaching $231.47. 1,310,831 shares of the stock were exchanged, compared to its average volume of 1,792,796. The stock has a 50 day moving average price of $244.71 and a 200 day moving average price of $236.08. The stock has a market cap of $52.29 billion, a PE ratio of 37.26, a P/E/G ratio of 3.25 and a beta of 1.30. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the company posted $3.32 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts forecast that Norfolk Southern Co. will post 11.67 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is presently 86.96%.

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.