Norfolk Southern Co. (NYSE:NSC) Shares Purchased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC raised its stake in Norfolk Southern Co. (NYSE:NSC) by 72.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,900 shares of the railroad operator’s stock after purchasing an additional 1,221 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Norfolk Southern were worth $739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its holdings in shares of Norfolk Southern by 662.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after buying an additional 106 shares during the last quarter. Orion Capital Management LLC purchased a new position in Norfolk Southern in the third quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC acquired a new position in Norfolk Southern during the fourth quarter worth $32,000. Financial Connections Group Inc. acquired a new position in shares of Norfolk Southern during the 4th quarter worth $34,000. Finally, Rise Advisors LLC purchased a new stake in shares of Norfolk Southern in the first quarter valued at about $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $214.69 on Friday. The firm’s 50 day moving average is $227.10 and its two-hundred day moving average is $238.93. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $48.50 billion, a P/E ratio of 34.57, a PEG ratio of 1.98 and a beta of 1.31. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the company posted $3.32 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Analysts anticipate that Norfolk Southern Co. will post 11.88 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.52%. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wells Fargo & Company decreased their price objective on Norfolk Southern from $270.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 25th. TD Cowen raised their target price on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. UBS Group reduced their price target on Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Benchmark reissued a “buy” rating and issued a $277.00 price objective on shares of Norfolk Southern in a research report on Thursday, April 25th. Finally, Loop Capital raised their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $262.89.

Insiders Place Their Bets

In related news, Director Sameh Fahmy acquired 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the acquisition, the director now owns 7,000 shares in the company, valued at $1,534,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sameh Fahmy purchased 2,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

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.