Dover Advisors LLC Reduces Stock Position in Norfolk Southern Co. (NYSE:NSC)

Dover Advisors LLC trimmed its holdings in Norfolk Southern Co. (NYSE:NSC) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,362 shares of the railroad operator’s stock after selling 90 shares during the period. Dover Advisors LLC’s holdings in Norfolk Southern were worth $789,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NSC. Lake Street Advisors Group LLC boosted its position in shares of Norfolk Southern by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after buying an additional 41 shares during the period. Raab & Moskowitz Asset Management LLC grew its stake in Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after acquiring an additional 41 shares in the last quarter. Archer Investment Corp lifted its position in shares of Norfolk Southern by 2.3% in the third quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after purchasing an additional 43 shares in the last quarter. Albert D Mason Inc. boosted its holdings in shares of Norfolk Southern by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after purchasing an additional 46 shares during the period. Finally, Maia Wealth LLC increased its stake in Norfolk Southern by 4.7% in the 3rd quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock valued at $264,000 after buying an additional 47 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Norfolk Southern

In other news, Director Sameh Fahmy acquired 350 shares of the stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NSC. Susquehanna decreased their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Citigroup boosted their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada raised their price target on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Benchmark reissued a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a research note on Thursday, January 30th. Finally, Stephens raised their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern Trading Down 0.6 %

Shares of NYSE:NSC opened at $247.84 on Monday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock’s 50-day moving average is $245.46 and its 200-day moving average is $250.78. The company has a market cap of $56.12 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Equities research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.18%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is currently 46.71%.

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.