Red Door Wealth Management LLC Has $363,000 Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Red Door Wealth Management LLC trimmed its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 8.1% during the first quarter, HoldingsChannel reports. The fund owned 1,425 shares of the railroad operator’s stock after selling 125 shares during the period. Red Door Wealth Management LLC’s holdings in Norfolk Southern were worth $363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raleigh Capital Management Inc. increased its stake in Norfolk Southern by 4.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock valued at $226,000 after buying an additional 40 shares during the last quarter. MCF Advisors LLC grew its position in shares of Norfolk Southern by 4.2% in the 4th quarter. MCF Advisors LLC now owns 1,016 shares of the railroad operator’s stock valued at $240,000 after acquiring an additional 41 shares during the period. Fiduciary Group LLC grew its position in shares of Norfolk Southern by 0.4% in the 4th quarter. Fiduciary Group LLC now owns 9,986 shares of the railroad operator’s stock valued at $2,360,000 after acquiring an additional 41 shares during the period. ZWJ Investment Counsel Inc. grew its position in shares of Norfolk Southern by 0.6% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 7,456 shares of the railroad operator’s stock valued at $1,762,000 after acquiring an additional 43 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its position in shares of Norfolk Southern by 2.6% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock valued at $397,000 after acquiring an additional 43 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Claude Mongeau acquired 5,650 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $4,420,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of Norfolk Southern stock in a transaction on 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 acquisition, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Claude Mongeau bought 5,650 shares of Norfolk Southern stock in a transaction on Wednesday, May 29th. The shares were acquired at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at $4,420,000. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $214.69 on Monday. The firm has a 50 day moving average of $227.10 and a 200-day moving average of $239.01. The stock has a market capitalization of $48.50 billion, a PE ratio of 34.57, a PEG ratio of 2.03 and a beta of 1.32. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66.

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

Norfolk Southern Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen lifted their target price on shares of Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. Wells Fargo & Company reduced their target price on shares of Norfolk Southern from $270.00 to $260.00 and set an “overweight” rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group assumed coverage on shares of Norfolk Southern in a report on Monday, April 8th. They set a “buy” rating and a $300.00 target price for the company. The Goldman Sachs Group lifted their target price on shares of Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus lifted their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average target price of $262.89.

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.