Smith Salley Wealth Management Lowers Stock Position in Norfolk Southern Co. (NYSE:NSC)

Smith Salley Wealth Management lessened its stake in Norfolk Southern Co. (NYSE:NSC) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,430 shares of the railroad operator’s stock after selling 60 shares during the period. Smith Salley Wealth Management’s holdings in Norfolk Southern were worth $307,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NSC. Nations Financial Group Inc. IA ADV increased its stake in Norfolk Southern by 4.0% in the second quarter. Nations Financial Group Inc. IA ADV now owns 8,561 shares of the railroad operator’s stock valued at $1,838,000 after acquiring an additional 332 shares during the last quarter. Blue Chip Partners LLC increased its position in shares of Norfolk Southern by 0.5% during the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after purchasing an additional 42 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Norfolk Southern by 9.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,883 shares of the railroad operator’s stock valued at $8,992,000 after purchasing an additional 3,712 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Norfolk Southern by 24.6% in the 2nd quarter. Arkadios Wealth Advisors now owns 3,665 shares of the railroad operator’s stock worth $787,000 after buying an additional 723 shares during the last quarter. Finally, Liberty Capital Management Inc. boosted its stake in Norfolk Southern by 23.6% in the second quarter. Liberty Capital Management Inc. now owns 1,069 shares of the railroad operator’s stock worth $230,000 after buying an additional 204 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Sanford C. Bernstein lowered their price target on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Susquehanna raised their price objective on Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Benchmark lifted their price objective on Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada dropped their target price on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus price target of $264.24.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were acquired at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at $1,534,750. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares in the company, valued at approximately $371,077.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sameh Fahmy acquired 2,000 shares of the business’s 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 completion of the transaction, the director now directly owns 7,000 shares in the company, valued at approximately $1,534,750. The disclosure for this purchase can be found here. In the last quarter, insiders bought 4,700 shares of company stock valued at $1,105,065. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Up 1.6 %

NYSE:NSC traded up $4.14 during trading hours on Friday, hitting $256.16. The company had a trading volume of 1,439,272 shares, compared to its average volume of 1,269,998. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The stock has a 50-day moving average price of $231.86 and a 200 day moving average price of $238.20. The company has a market capitalization of $57.87 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.41 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.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm posted $2.95 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Norfolk Southern Co. will post 11.78 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were issued a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.11%. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

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.