Norfolk Southern Co. (NYSE:NSC) Stock Position Lowered by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC decreased its position in Norfolk Southern Co. (NYSE:NSC) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,396 shares of the railroad operator’s stock after selling 576 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Norfolk Southern were worth $3,669,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NSC. Cedar Wealth Management LLC acquired a new stake in Norfolk Southern in the 1st quarter valued at about $27,000. Rise Advisors LLC bought a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $34,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Norfolk Southern during the fourth quarter valued at approximately $32,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern during the fourth quarter worth approximately $34,000. Finally, Rational Advisors LLC acquired a new position in Norfolk Southern in the first quarter worth approximately $40,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the subject of a number of recent research reports. Morgan Stanley reiterated an “underweight” rating and set a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. UBS Group cut their price objective on Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada decreased their target price on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a report on Friday. Loop Capital boosted their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Barclays decreased their price objective on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $264.65.

Insider Buying and Selling at Norfolk Southern

In related news, CMO Claude E. Elkins sold 8,329 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sameh Fahmy acquired 2,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were purchased at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the purchase, the director now owns 7,000 shares of the company’s stock, valued at $1,534,750. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Claude E. Elkins sold 8,329 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC traded up $24.32 on Friday, reaching $247.22. 2,824,747 shares of the stock traded hands, compared to its average volume of 1,313,110. The firm has a market cap of $55.85 billion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 2.18 and a beta of 1.32. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The stock’s 50-day moving average price is $222.31 and its 200-day moving average price is $237.36. 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 announced its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.21. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the company posted $2.95 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Norfolk Southern Co. will post 11.62 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Friday, August 2nd. Norfolk Southern’s dividend payout ratio is 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.