Norfolk Southern Corporation $NSC Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC lessened its stake in Norfolk Southern Corporation (NYSE:NSC) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,662 shares of the railroad operator’s stock after selling 650 shares during the quarter. Modera Wealth Management LLC’s holdings in Norfolk Southern were worth $1,961,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NSC. Morningstar Investment Management LLC acquired a new position in Norfolk Southern in the 2nd quarter valued at about $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Norfolk Southern by 682.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock valued at $14,337,000 after purchasing an additional 48,850 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Norfolk Southern by 10.4% in the second quarter. Teacher Retirement System of Texas now owns 116,795 shares of the railroad operator’s stock valued at $29,896,000 after purchasing an additional 10,990 shares during the period. Nordea Investment Management AB grew its holdings in shares of Norfolk Southern by 6.4% in the second quarter. Nordea Investment Management AB now owns 19,598 shares of the railroad operator’s stock valued at $5,012,000 after purchasing an additional 1,178 shares in the last quarter. Finally, GC Wealth Management RIA LLC increased its stake in Norfolk Southern by 52.5% during the 2nd quarter. GC Wealth Management RIA LLC now owns 4,441 shares of the railroad operator’s stock worth $1,137,000 after buying an additional 1,528 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Richard H. Anderson purchased 2,600 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was purchased at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the purchase, the director directly owned 7,000 shares in the company, valued at approximately $1,973,020. This trade represents a 59.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sameh Fahmy purchased 1,650 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average cost of $282.97 per share, for a total transaction of $466,900.50. Following the acquisition, the director owned 12,000 shares of the company’s stock, valued at approximately $3,395,640. The trade was a 15.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is owned by company insiders.

Norfolk Southern Trading Up 0.8%

NYSE:NSC opened at $284.23 on Friday. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The stock has a market cap of $63.78 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.52 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86. The stock has a 50-day simple moving average of $286.13 and a 200-day simple moving average of $267.30.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the company earned $3.25 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, November 7th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s dividend payout ratio (DPR) is 41.19%.

Analysts Set New Price Targets

Several research firms have commented on NSC. Evercore ISI boosted their price target on shares of Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. Royal Bank Of Canada decreased their target price on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a report on Friday, October 24th. Bank of America boosted their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. TD Cowen reduced their price target on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $300.00 price objective on shares of Norfolk Southern in a research report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $299.70.

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.