Pettyjohn Wood & White Inc. Sells 408 Shares of Norfolk Southern Co. (NYSE:NSC)

Pettyjohn Wood & White Inc. reduced its position in Norfolk Southern Co. (NYSE:NSCFree Report) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,404 shares of the railroad operator’s stock after selling 408 shares during the quarter. Norfolk Southern comprises about 1.4% of Pettyjohn Wood & White Inc.’s holdings, making the stock its 24th biggest holding. Pettyjohn Wood & White Inc.’s holdings in Norfolk Southern were worth $6,478,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NSC. Exchange Traded Concepts LLC lifted its position in Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Norfolk Southern during the fourth quarter worth approximately $32,000. Provence Wealth Management Group purchased a new position in shares of Norfolk Southern during the third quarter worth approximately $28,000. Creative Financial Designs Inc. ADV increased its stake in shares of Norfolk Southern by 317.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock worth $35,000 after buying an additional 111 shares during the period. Finally, Financial Connections Group Inc. purchased a new position in shares of Norfolk Southern in the fourth quarter worth $34,000. 75.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NSC has been the topic of several analyst reports. Wells Fargo & Company initiated coverage on shares of Norfolk Southern in a research note on Friday, June 7th. They issued an “overweight” rating and a $270.00 target price on the stock. The Goldman Sachs Group boosted their price objective on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Stifel Nicolaus boosted their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Susquehanna reduced their price objective on shares of Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. Finally, UBS Group reduced their price objective on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and an average price target of $264.56.

Check Out Our Latest Stock Analysis on Norfolk Southern

Insider Activity

In other Norfolk Southern news, Director Claude Mongeau purchased 5,650 shares of Norfolk Southern stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $4,420,000. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Claude Mongeau bought 5,650 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average cost of $221.00 per share, with a total value of $1,248,650.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Down 1.0 %

Norfolk Southern stock traded down $2.29 during mid-day trading on Thursday, reaching $221.84. The stock had a trading volume of 841,049 shares, compared to its average volume of 1,322,482. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. The company has a market capitalization of $50.12 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 2.12 and a beta of 1.31. The company has a 50-day moving average price of $233.19 and a two-hundred day moving average price of $239.03. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66.

Norfolk Southern (NYSE:NSCGet Free Report) last posted its 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 company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. Norfolk Southern’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.32 EPS. On average, analysts expect that Norfolk Southern Co. will post 11.88 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, May 2nd. Norfolk Southern’s payout ratio is currently 86.96%.

Norfolk Southern Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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