Norfolk Southern Corporation $NSC Shares Sold by Wescott Financial Advisory Group LLC

Wescott Financial Advisory Group LLC lessened its stake in Norfolk Southern Corporation (NYSE:NSC) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,897 shares of the railroad operator’s stock after selling 1,690 shares during the period. Wescott Financial Advisory Group LLC’s holdings in Norfolk Southern were worth $4,879,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NSC. Picton Mahoney Asset Management purchased a new stake in Norfolk Southern in the 3rd quarter valued at approximately $24,033,000. Primecap Management Co. CA boosted its holdings in Norfolk Southern by 7.9% in the 3rd quarter. Primecap Management Co. CA now owns 1,132,583 shares of the railroad operator’s stock valued at $340,239,000 after purchasing an additional 82,500 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Norfolk Southern by 9.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after purchasing an additional 3,887 shares in the last quarter. NEOS Investment Management LLC boosted its holdings in Norfolk Southern by 47.0% in the 3rd quarter. NEOS Investment Management LLC now owns 25,298 shares of the railroad operator’s stock valued at $7,600,000 after purchasing an additional 8,090 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its holdings in Norfolk Southern by 11.7% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 15,143 shares of the railroad operator’s stock valued at $4,549,000 after purchasing an additional 1,587 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $310.43 on Friday. The business’s 50 day simple moving average is $307.81 and its 200-day simple moving average is $299.99. The firm has a market capitalization of $69.72 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 5.71 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. Norfolk Southern Corporation has a 12 month low of $247.85 and a 12 month high of $326.00.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the company earned $2.69 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts forecast that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s dividend payout ratio is presently 45.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NSC shares. BMO Capital Markets lifted their price objective on Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a report on Monday, April 27th. Royal Bank Of Canada lifted their price objective on Norfolk Southern from $310.00 to $360.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Evercore set a $325.00 price objective on Norfolk Southern in a report on Friday, April 24th. Robert W. Baird boosted their price target on Norfolk Southern from $315.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Finally, TD Cowen boosted their price target on Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $322.71.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.