Modera Wealth Management LLC Lowers Position in Norfolk Southern Corporation $NSC

Modera Wealth Management LLC decreased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 7.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,662 shares of the railroad operator’s stock after selling 650 shares during the period. Modera Wealth Management LLC’s holdings in Norfolk Southern were worth $1,961,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after purchasing an additional 79 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of Norfolk Southern in the 1st quarter worth about $362,000. Xponance Inc. boosted its position in shares of Norfolk Southern by 1.8% in the 1st quarter. Xponance Inc. now owns 31,960 shares of the railroad operator’s stock worth $7,570,000 after buying an additional 552 shares in the last quarter. Ballentine Partners LLC grew its stake in Norfolk Southern by 2.8% in the 1st quarter. Ballentine Partners LLC now owns 5,446 shares of the railroad operator’s stock valued at $1,290,000 after acquiring an additional 149 shares during the last quarter. Finally, Kathmere Capital Management LLC purchased a new position in Norfolk Southern during the 1st quarter valued at about $202,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Sameh Fahmy bought 1,650 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director directly owned 12,000 shares of the company’s stock, valued at approximately $3,395,640. This represents a 15.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Anderson bought 2,600 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were bought at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the acquisition, the director owned 7,000 shares in the company, valued at approximately $1,973,020. This trade represents a 59.09% increase in their position. The SEC filing for this purchase provides additional information. 0.06% of the stock is owned by corporate insiders.

Norfolk Southern Stock Performance

NYSE:NSC opened at $284.23 on Friday. The company has a market cap of $63.78 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.52 and a beta of 1.33. The firm’s 50 day moving average is $286.13 and its two-hundred day moving average is $267.30. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $302.24. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

Norfolk Southern (NYSE:NSC) last posted 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 firm 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%. Norfolk Southern’s revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $3.25 EPS. Analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore ISI increased their price target on shares of Norfolk Southern from $289.00 to $298.00 in a research report on Thursday, September 25th. Weiss Ratings lowered Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Bank of America raised their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Citigroup cut their price target on Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Finally, Susquehanna increased their price objective on Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $299.70.

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.