B. Riley Wealth Advisors Inc. Reduces Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

B. Riley Wealth Advisors Inc. lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,256 shares of the railroad operator’s stock after selling 839 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Norfolk Southern were worth $1,549,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in Norfolk Southern in the third quarter valued at $25,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $27,000. Morse Asset Management Inc acquired a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $30,000. Financial Connections Group Inc. purchased a new position in Norfolk Southern during the 2nd quarter worth approximately $31,000. Finally, HWG Holdings LP acquired a new position in Norfolk Southern during the second quarter worth approximately $31,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NSC. Bank of America increased their price objective on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup raised their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Susquehanna upped their target price on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Barclays raised their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price objective on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and an average target price of $275.68.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC opened at $243.07 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The company has a 50-day simple moving average of $259.14 and a 200-day simple moving average of $243.98. The company has a market capitalization of $54.99 billion, a PE ratio of 22.82, a P/E/G ratio of 2.35 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $2.65 EPS. Equities research analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

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.