Avantax Advisory Services Inc. Cuts Stake in Norfolk Southern Co. (NYSE:NSC)

Avantax Advisory Services Inc. reduced its position in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 11.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,206 shares of the railroad operator’s stock after selling 802 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Norfolk Southern were worth $1,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Norfolk Southern by 1.0% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,221 shares of the railroad operator’s stock valued at $957,000 after acquiring an additional 43 shares during the last quarter. Northwest Investment Counselors LLC boosted its holdings in shares of Norfolk Southern by 23.6% during the 3rd quarter. Northwest Investment Counselors LLC now owns 262 shares of the railroad operator’s stock valued at $52,000 after acquiring an additional 50 shares during the last quarter. Bridge Creek Capital Management LLC boosted its holdings in shares of Norfolk Southern by 0.5% during the 3rd quarter. Bridge Creek Capital Management LLC now owns 10,454 shares of the railroad operator’s stock valued at $2,059,000 after acquiring an additional 50 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of Norfolk Southern by 0.7% during the 2nd quarter. Jacobi Capital Management LLC now owns 7,257 shares of the railroad operator’s stock valued at $1,645,000 after acquiring an additional 52 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Norfolk Southern by 2.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,169 shares of the railroad operator’s stock valued at $492,000 after acquiring an additional 53 shares during the last quarter. 72.37% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Down 0.5 %

NYSE NSC opened at $250.55 on Thursday. The firm has a market capitalization of $56.59 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 4.38 and a beta of 1.30. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $255.80. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The company has a fifty day moving average of $233.45 and a two-hundred day moving average of $215.72.

Norfolk Southern (NYSE:NSCGet Free Report) last issued its earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the firm posted $3.42 earnings per share. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts predict that Norfolk Southern Co. will post 12.25 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.16%. Norfolk Southern’s dividend payout ratio is presently 67.33%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NSC. UBS Group raised their price objective on shares of Norfolk Southern from $209.00 to $238.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Bank of America upgraded shares of Norfolk Southern from a “neutral” rating to a “buy” rating and raised their target price for the stock from $204.00 to $248.00 in a research note on Friday, December 1st. Wells Fargo & Company decreased their target price on shares of Norfolk Southern from $245.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th. Royal Bank of Canada decreased their target price on shares of Norfolk Southern from $215.00 to $207.00 and set a “sector perform” rating on the stock in a research note on Monday, January 29th. Finally, Stifel Nicolaus cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and reduced their price objective for the company from $250.00 to $233.00 in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $235.35.

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Norfolk Southern Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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