Norfolk Southern Co. (NYSE:NSC) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC decreased its stake in Norfolk Southern Co. (NYSE:NSC) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 931 shares of the railroad operator’s stock after selling 74 shares during the period. EverSource Wealth Advisors LLC’s holdings in Norfolk Southern were worth $200,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC bought a new stake in Norfolk Southern in the first quarter valued at $27,000. 1620 Investment Advisors Inc. bought a new stake in Norfolk Southern in the 2nd quarter valued at about $27,000. Financial Connections Group Inc. acquired a new position in Norfolk Southern during the 2nd quarter valued at about $31,000. Rise Advisors LLC bought a new position in Norfolk Southern in the 1st quarter worth about $34,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at approximately $34,000. 75.10% of the stock is currently owned by institutional investors.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Richard H. Anderson bought 2,000 shares of the stock in a transaction on Monday, July 29th. The shares were purchased at an average cost of $247.48 per share, with a total value of $494,960.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $742,440. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard H. Anderson bought 2,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were purchased at an average cost of $247.48 per share, with a total value of $494,960.00. Following the transaction, the director now owns 3,000 shares in the company, valued at $742,440. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $243.30 on Thursday. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The stock has a market cap of $54.96 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The business has a fifty day simple moving average of $244.12 and a 200-day simple moving average of $237.58.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the business earned $2.95 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 11.8 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.22%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Analyst Ratings Changes

Several research firms recently commented on NSC. Wells Fargo & Company raised their target price on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Sanford C. Bernstein cut their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Evercore ISI increased their target price on shares of Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a research report on Wednesday. Benchmark boosted their price target on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada decreased their price objective on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued 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 an average price target of $264.89.

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.