Premier Path Wealth Partners LLC Lowers Stock Position in Norfolk Southern Corporation $NSC

Premier Path Wealth Partners LLC lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 901 shares of the railroad operator’s stock after selling 69 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Norfolk Southern were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in NSC. Price T Rowe Associates Inc. MD boosted its holdings in Norfolk Southern by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock valued at $2,680,910,000 after purchasing an additional 2,710,930 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Norfolk Southern during the 2nd quarter worth approximately $321,393,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Norfolk Southern by 341.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator’s stock worth $187,100,000 after acquiring an additional 611,198 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Norfolk Southern during the 1st quarter worth approximately $122,256,000. Finally, Phoenix Financial Ltd. purchased a new stake in shares of Norfolk Southern during the 1st quarter worth approximately $110,209,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NSC stock opened at $283.91 on Friday. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86. The stock’s 50 day moving average price is $285.55 and its 200 day moving average price is $264.73. The firm has a market cap of $63.71 billion, a P/E ratio of 21.66, a PEG ratio of 2.52 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last posted its 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). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the previous year, the company posted $3.25 EPS. Norfolk Southern’s quarterly revenue was up .0% compared to the same quarter last year. On average, sell-side analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, November 7th will be issued a $1.35 dividend. The ex-dividend date is Friday, November 7th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s payout ratio is 41.19%.

Wall Street Analysts Forecast Growth

NSC has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. UBS Group decreased their price target on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Barclays boosted their price target on Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Weiss Ratings lowered Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Norfolk Southern from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $299.70.

Insiders Place Their Bets

In other Norfolk Southern news, Director Richard H. Anderson purchased 2,600 shares of the business’s stock in a transaction on Monday, October 27th. The stock was bought at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the acquisition, the director owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. The trade was a 59.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.06% of the company’s stock.

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.