Elevation Point Wealth Partners LLC Sells 436 Shares of Norfolk Southern Corporation $NSC

Elevation Point Wealth Partners LLC reduced its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 2.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 19,070 shares of the railroad operator’s stock after selling 436 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Norfolk Southern were worth $4,881,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. WPG Advisers LLC purchased a new position in shares of Norfolk Southern in the first quarter valued at about $27,000. True Wealth Design LLC grew its stake in shares of Norfolk Southern by 423.8% in the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after purchasing an additional 89 shares during the last quarter. NewSquare Capital LLC increased its holdings in Norfolk Southern by 58.5% during the 2nd quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Financial Gravity Companies Inc. bought a new position in Norfolk Southern during the 2nd quarter valued at approximately $35,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in Norfolk Southern by 30.5% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In related news, Director Sameh Fahmy acquired 1,650 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, November 5th. The stock was bought at an average price of $282.97 per share, with a total value of $466,900.50. Following the transaction, the director directly owned 12,000 shares in the company, valued at approximately $3,395,640. This represents a 15.94% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard H. Anderson acquired 2,600 shares of the stock in a transaction on Monday, October 27th. The shares were bought at an average price of $281.86 per share, with a total value of $732,836.00. Following the purchase, the director directly owned 7,000 shares of the company’s stock, valued at $1,973,020. The trade was a 59.09% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NSC has been the topic of several research analyst reports. Weiss Ratings cut Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Evercore ISI lifted their price target on shares of Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Citigroup decreased their price objective on shares of Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Sanford C. Bernstein dropped their target price on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. Finally, Barclays boosted their price target on shares of Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Seven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and a consensus price target of $301.10.

Norfolk Southern Stock Up 0.4%

NYSE:NSC opened at $290.29 on Thursday. The firm’s 50-day moving average price is $288.27 and its 200-day moving average price is $272.95. The company has a market capitalization of $65.14 billion, a PE ratio of 22.14, 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 current ratio of 0.86 and a quick ratio of 0.78. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24.

Norfolk Southern (NYSE:NSC) last issued 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). The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The company’s revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $3.25 earnings per share. On average, equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Friday, November 7th were 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 was Friday, November 7th. Norfolk Southern’s payout ratio is currently 41.19%.

Norfolk Southern Company 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.