Laird Norton Wetherby Wealth Management LLC Sells 161 Shares of Norfolk Southern Co. (NYSE:NSC)

Laird Norton Wetherby Wealth Management LLC trimmed its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,609 shares of the railroad operator’s stock after selling 161 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Norfolk Southern were worth $1,551,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its position in Norfolk Southern by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator’s stock worth $1,098,472,000 after acquiring an additional 113,648 shares during the period. Caprock Group LLC bought a new position in Norfolk Southern during the fourth quarter worth about $1,796,000. Grandview Asset Management LLC bought a new position in Norfolk Southern during the fourth quarter worth about $918,000. Dorsey & Whitney Trust CO LLC increased its position in Norfolk Southern by 2.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator’s stock worth $1,333,000 after acquiring an additional 128 shares during the period. Finally, Clarendon Private LLC bought a new position in Norfolk Southern in the 4th quarter valued at about $309,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 0.4%

NYSE:NSC opened at $240.09 on Wednesday. The firm’s 50 day simple moving average is $225.89 and its 200 day simple moving average is $242.66. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The company has a market cap of $54.13 billion, a PE ratio of 20.77, a P/E/G ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the business earned $2.49 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.25%. Norfolk Southern’s payout ratio is 36.89%.

Analysts Set New Price Targets

Several research firms have commented on NSC. Barclays decreased their target price on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Bank of America decreased their target price on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Benchmark reissued a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Evercore ISI decreased their target price on shares of Norfolk Southern from $284.00 to $269.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Finally, Stephens raised their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $266.10.

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.