Farther Finance Advisors LLC Decreases Stake in Norfolk Southern Co. (NYSE:NSC)

Farther Finance Advisors LLC cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,862 shares of the railroad operator’s stock after selling 83 shares during the quarter. Farther Finance Advisors LLC’s holdings in Norfolk Southern were worth $672,000 as of its most recent SEC filing.

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

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $232.75 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The firm has a market capitalization of $52.70 billion, a PE ratio of 20.13, a P/E/G ratio of 2.31 and a beta of 1.35. The business’s 50 day moving average price is $246.30 and its 200-day moving average price is $250.52.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, equities research analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.32%. Norfolk Southern’s payout ratio is 46.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stephens raised their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and lowered their target price for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price target on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and an average target price of $276.95.

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.