Burns J W & Co. Inc. NY Sells 1,665 Shares of Norfolk Southern Co. (NYSE:NSC)

Burns J W & Co. Inc. NY decreased its position in Norfolk Southern Co. (NYSE:NSC) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,760 shares of the railroad operator’s stock after selling 1,665 shares during the period. Burns J W & Co. Inc. NY’s holdings in Norfolk Southern were worth $6,820,000 at the end of the most recent quarter.

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 shares of Norfolk Southern in the 4th quarter worth $2,933,000. State of Tennessee Treasury Department grew its position in shares of Norfolk Southern by 209.3% during the 4th quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock worth $26,454,000 after buying an additional 75,729 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Norfolk Southern in the 4th quarter valued at about $1,444,000. Cerity Partners LLC raised its position in shares of Norfolk Southern by 37.1% in the 4th quarter. Cerity Partners LLC now owns 150,998 shares of the railroad operator’s stock valued at $35,692,000 after acquiring an additional 40,861 shares during the period. Finally, Catalytic Wealth RIA LLC bought a new position in Norfolk Southern during the 4th quarter worth approximately $608,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NSC shares. The Goldman Sachs Group lifted their target price on Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Susquehanna reduced their price target on shares of Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating for the company in a report on Tuesday. Barclays dropped their price objective on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. UBS Group reduced their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Benchmark restated a “buy” rating and issued a $277.00 price target on shares of Norfolk Southern in a 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. Based on data from MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and an average target price of $262.89.

Insider Activity

In other news, Director Sameh Fahmy acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $219.25 per share, with a total value of $438,500.00. Following the completion of the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sameh Fahmy acquired 2,000 shares of the stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $219.25 per share, with a total value of $438,500.00. Following the purchase, the director now directly owns 7,000 shares of the company’s stock, valued at $1,534,750. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC traded up $4.79 during midday trading on Friday, reaching $214.69. 1,584,755 shares of the stock were exchanged, compared to its average volume of 1,129,521. 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’s 50 day simple moving average is $227.10 and its 200 day simple moving average is $238.82. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The company has a market cap of $48.50 billion, a P/E ratio of 34.57, a PEG ratio of 1.98 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the firm earned $3.32 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.88 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were issued a $1.35 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.52%. Norfolk Southern’s dividend payout ratio is presently 86.96%.

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.