Wealth Alliance Reduces Holdings in Norfolk Southern Co. (NYSE:NSC)

Wealth Alliance trimmed its position in shares of Norfolk Southern Co. (NYSE:NSC) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,365 shares of the railroad operator’s stock after selling 137 shares during the quarter. Wealth Alliance’s holdings in Norfolk Southern were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of NSC. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Norfolk Southern during the fourth quarter valued at $2,933,000. BKM Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter valued at $1,444,000. Pathstone Family Office LLC boosted its stake in shares of Norfolk Southern by 200.1% during the third quarter. Pathstone Family Office LLC now owns 16,077 shares of the railroad operator’s stock valued at $3,198,000 after purchasing an additional 10,719 shares during the period. ClearBridge Investments Ltd purchased a new stake in shares of Norfolk Southern during the third quarter valued at $34,973,000. Finally, LPL Financial LLC boosted its stake in shares of Norfolk Southern by 9.8% during the third quarter. LPL Financial LLC now owns 187,259 shares of the railroad operator’s stock valued at $36,877,000 after purchasing an additional 16,727 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

NSC opened at $240.12 on Friday. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The company has a market cap of $59.12 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 3.25 and a beta of 1.30. The firm’s 50-day moving average price is $253.23 and its 200-day moving average price is $230.45.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the company earned $3.42 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Norfolk Southern Co. will post 11.98 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $5.40 annualized dividend and a yield of 2.25%. Norfolk Southern’s dividend payout ratio (DPR) is presently 67.33%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NSC. Stifel Nicolaus boosted their target price on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Barclays upgraded Norfolk Southern from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $255.00 to $305.00 in a report on Wednesday, February 21st. Susquehanna decreased their price objective on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Sanford C. Bernstein upgraded Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price objective for the company in a report on Monday, January 22nd. Finally, TheStreet upgraded Norfolk Southern from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.74.

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.