Rede Wealth LLC Cuts Stock Holdings in Norfolk Southern Corporation $NSC

Rede Wealth LLC decreased its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,399 shares of the railroad operator’s stock after selling 75 shares during the quarter. Rede Wealth LLC’s holdings in Norfolk Southern were worth $614,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. WPG Advisers LLC purchased a new stake in shares of Norfolk Southern during the first quarter valued at approximately $27,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Norfolk Southern during the first quarter valued at approximately $41,000. Golden State Wealth Management LLC grew its holdings in shares of Norfolk Southern by 883.3% during the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after buying an additional 159 shares during the last quarter. Pinnacle Bancorp Inc. grew its holdings in shares of Norfolk Southern by 30.5% during the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock valued at $47,000 after buying an additional 43 shares during the last quarter. Finally, Chung Wu Investment Group LLC purchased a new stake in shares of Norfolk Southern during the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NSC shares. Loop Capital increased their price objective on shares of Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research report on Tuesday, September 16th. Royal Bank Of Canada lowered their price objective on shares of Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating on the stock in a research report on Friday, October 24th. Bank of America increased their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Robert W. Baird increased their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $299.70.

Insider Activity at Norfolk Southern

In other news, Director Richard H. Anderson acquired 2,600 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were purchased at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the transaction, the director directly owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. This trade represents a 59.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by insiders.

Norfolk Southern Stock Up 0.8%

NSC opened at $283.91 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24. The company has a market capitalization of $63.71 billion, a PE ratio of 21.66, a PEG ratio of 2.52 and a beta of 1.33. The firm’s 50 day simple moving average is $285.55 and its two-hundred day simple moving average is $264.73.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.01). The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.25 earnings per share. As a group, equities analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, November 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 41.19%.

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.