Cannon Wealth Management Services LLC Sells 198 Shares of Norfolk Southern Co. (NYSE:NSC)

Cannon Wealth Management Services LLC lessened its stake in Norfolk Southern Co. (NYSE:NSC) by 10.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,667 shares of the railroad operator’s stock after selling 198 shares during the quarter. Cannon Wealth Management Services LLC’s holdings in Norfolk Southern were worth $417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NSC. Highline Wealth Partners LLC bought a new stake in shares of Norfolk Southern in the third quarter worth about $25,000. Financial Life Planners bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $27,000. Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $27,000. Bank of Jackson Hole Trust bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $27,000. Finally, Morse Asset Management Inc bought a new stake in shares of Norfolk Southern in the third quarter worth about $30,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $247.84 on Monday. The firm has a market cap of $56.12 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The business’s 50 day moving average is $245.46 and its 200-day moving average is $250.78.

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

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere acquired 607 shares of the stock in a transaction 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 purchase, the director now directly owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the acquisition, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NSC. Stephens increased their price target on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Citigroup increased their price target on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Wells Fargo & Company reduced their price objective 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. Finally, Susquehanna reduced their price objective on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus target price of $276.11.

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.