Independent Solutions Wealth Management LLC Has $229,000 Holdings in Norfolk Southern Co. (NYSE:NSC)

Independent Solutions Wealth Management LLC decreased its stake in Norfolk Southern Co. (NYSE:NSC) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 923 shares of the railroad operator’s stock after selling 64 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Norfolk Southern were worth $229,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NSC. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth about $27,000. Diversified LLC acquired a new stake in shares of Norfolk Southern during the second quarter worth approximately $328,000. Premier Path Wealth Partners LLC bought a new position in shares of Norfolk Southern in the second quarter valued at approximately $206,000. Everhart Financial Group Inc. boosted its holdings in shares of Norfolk Southern by 5.0% in the 2nd quarter. Everhart Financial Group Inc. now owns 2,286 shares of the railroad operator’s stock worth $491,000 after acquiring an additional 108 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in Norfolk Southern during the 2nd quarter worth approximately $157,000. 75.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Norfolk Southern Stock Performance

Shares of NSC opened at $230.60 on Friday. The firm has a market cap of $52.17 billion, a P/E ratio of 21.65, a PEG ratio of 2.34 and a beta of 1.31. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The firm’s 50 day moving average price is $258.68 and its two-hundred day moving average price is $243.97.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.65 EPS. On average, analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were given a dividend of $1.35 per share. The ex-dividend date was Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.34%. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NSC shares. TD Cowen lifted their price objective on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. Evercore ISI cut their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. UBS Group raised their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Barclays raised their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern 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.