Wescott Financial Advisory Group LLC Trims Stake in Norfolk Southern Corporation $NSC

Wescott Financial Advisory Group LLC lowered its stake in Norfolk Southern Corporation (NYSE:NSC) by 9.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,897 shares of the railroad operator’s stock after selling 1,690 shares during the quarter. Wescott Financial Advisory Group LLC’s holdings in Norfolk Southern were worth $4,879,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new position in Norfolk Southern in the 3rd quarter valued at $24,033,000. Primecap Management Co. CA raised its holdings in Norfolk Southern by 7.9% in the 3rd quarter. Primecap Management Co. CA now owns 1,132,583 shares of the railroad operator’s stock valued at $340,239,000 after acquiring an additional 82,500 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Norfolk Southern by 9.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after acquiring an additional 3,887 shares during the last quarter. NEOS Investment Management LLC raised its holdings in Norfolk Southern by 47.0% in the 3rd quarter. NEOS Investment Management LLC now owns 25,298 shares of the railroad operator’s stock valued at $7,600,000 after acquiring an additional 8,090 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in Norfolk Southern by 11.7% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 15,143 shares of the railroad operator’s stock valued at $4,549,000 after acquiring an additional 1,587 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Trading Up 0.5%

NSC stock opened at $310.43 on Friday. The company has a market cap of $69.72 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 5.71 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $307.81 and a 200-day simple moving average of $299.99. Norfolk Southern Corporation has a 52 week low of $247.85 and a 52 week high of $326.00.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.69 EPS. On average, equities research analysts expect that Norfolk Southern Corporation will post 12.11 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio is 45.49%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Argus upgraded Norfolk Southern to a “hold” rating in a report on Wednesday, February 25th. Sanford C. Bernstein cut their price target on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Evercore set a $325.00 price target on Norfolk Southern in a report on Friday, April 24th. Susquehanna upped their price objective on Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Finally, Royal Bank Of Canada upped their price objective on Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $322.71.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.