Kovack Advisors Inc. Sells 400 Shares of Norfolk Southern Corporation $NSC

Kovack Advisors Inc. cut its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 30.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 908 shares of the railroad operator’s stock after selling 400 shares during the quarter. Kovack Advisors Inc.’s holdings in Norfolk Southern were worth $232,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NSC. Golden State Wealth Management LLC grew its holdings in Norfolk Southern by 883.3% during the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock worth $42,000 after purchasing an additional 159 shares during the period. Morningstar Investment Management LLC bought a new position in Norfolk Southern during the second quarter worth about $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Norfolk Southern by 682.1% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock worth $14,337,000 after purchasing an additional 48,850 shares during the period. Teacher Retirement System of Texas grew its holdings in Norfolk Southern by 10.4% during the second quarter. Teacher Retirement System of Texas now owns 116,795 shares of the railroad operator’s stock worth $29,896,000 after purchasing an additional 10,990 shares during the period. Finally, GC Wealth Management RIA LLC grew its holdings in Norfolk Southern by 52.5% during the second quarter. GC Wealth Management RIA LLC now owns 4,441 shares of the railroad operator’s stock worth $1,137,000 after purchasing an additional 1,528 shares during the period. 75.10% of the stock is owned by institutional investors.

Insider Activity

In other Norfolk Southern news, Director Richard H. Anderson bought 2,600 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were purchased at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the transaction, the director directly owned 7,000 shares in the company, valued at approximately $1,973,020. This trade represents a 59.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on NSC shares. Sanford C. Bernstein lifted their price target on Norfolk Southern from $295.00 to $305.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on Norfolk Southern from $288.00 to $303.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price target on shares of Norfolk Southern in a research note on Friday, July 25th. Susquehanna upped their price target on shares of Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Finally, Evercore ISI upped their price target on shares of Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and a consensus target price of $299.70.

Norfolk Southern Stock Up 0.8%

Shares of NSC opened at $283.91 on Monday. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $302.24. The firm has a market cap of $63.71 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. The firm’s 50-day simple moving average is $285.55 and its 200 day simple moving average is $265.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the previous year, the company earned $3.25 EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, November 7th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, November 7th. Norfolk Southern’s dividend payout ratio is presently 41.19%.

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.