Advisory Services Network LLC Boosts Stake in Norfolk Southern Co. (NYSE:NSC)

Advisory Services Network LLC grew its position in Norfolk Southern Co. (NYSE:NSC) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,713 shares of the railroad operator’s stock after purchasing an additional 915 shares during the period. Advisory Services Network LLC’s holdings in Norfolk Southern were worth $2,985,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC lifted its position in Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after buying an additional 106 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Norfolk Southern during the 4th quarter worth $32,000. Financial Connections Group Inc. purchased a new stake in Norfolk Southern during the 4th quarter worth $34,000. Rise Advisors LLC purchased a new position in Norfolk Southern in the first quarter valued at about $34,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Norfolk Southern by 317.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock worth $35,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

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

Norfolk Southern Stock Performance

NSC stock traded up $0.70 during trading on Friday, hitting $221.64. 231,207 shares of the company’s stock traded hands, compared to its average volume of 1,303,276. The stock has a market capitalization of $50.07 billion, a price-to-earnings ratio of 35.58, a price-to-earnings-growth ratio of 2.08 and a beta of 1.32. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The stock has a fifty day moving average price of $223.09 and a two-hundred day moving average price of $237.86. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the company earned $3.32 EPS. Norfolk Southern’s revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Norfolk Southern Co. will post 11.8 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.44%. Norfolk Southern’s payout ratio is currently 86.96%.

Wall Street Analyst Weigh In

NSC has been the subject of a number of recent research reports. Susquehanna lowered their target price on Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Jefferies Financial Group started coverage on shares of Norfolk Southern in a research note on Monday, April 8th. They set a “buy” rating and a $300.00 price objective on the stock. Morgan Stanley reissued an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a research report on Monday. Stifel Nicolaus raised their price target on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, Wells Fargo & Company dropped their price target on shares of Norfolk Southern from $270.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $263.82.

About Norfolk Southern

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.