Concord Wealth Partners Sells 43 Shares of Norfolk Southern Co. (NYSE:NSC)

Concord Wealth Partners trimmed its position in Norfolk Southern Co. (NYSE:NSC) by 20.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 167 shares of the railroad operator’s stock after selling 43 shares during the quarter. Concord Wealth Partners’ holdings in Norfolk Southern were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc bought a new position in Norfolk Southern in the fourth quarter valued at approximately $2,933,000. BKM Wealth Management LLC bought a new position in shares of Norfolk Southern in the 4th quarter worth $1,444,000. Pathstone Family Office LLC grew its stake in shares of Norfolk Southern by 200.1% during the third quarter. Pathstone Family Office LLC now owns 16,077 shares of the railroad operator’s stock worth $3,198,000 after purchasing an additional 10,719 shares during the period. ClearBridge Investments Ltd acquired a new position in Norfolk Southern in the third quarter valued at about $34,973,000. Finally, LPL Financial LLC lifted its stake in Norfolk Southern by 9.8% in the third quarter. LPL Financial LLC now owns 187,259 shares of the railroad operator’s stock valued at $36,877,000 after buying an additional 16,727 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NSC. JPMorgan Chase & Co. upped their price target on Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Loop Capital increased their target price on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $270.00 price target on shares of Norfolk Southern in a research report on Wednesday, April 10th. Susquehanna dropped their price objective on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Finally, BMO Capital Markets decreased their target price on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.32.

Norfolk Southern Price Performance

Shares of NSC opened at $235.55 on Friday. The company has a 50 day moving average of $250.16 and a 200-day moving average of $233.40. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $53.21 billion, a P/E ratio of 37.93, a P/E/G ratio of 3.28 and a beta of 1.30. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.09). The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.32 earnings per share. As a group, equities research analysts forecast that Norfolk Southern Co. will post 11.62 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be paid a $1.35 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.29%. Norfolk Southern’s dividend payout ratio is 86.96%.

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.