Richwood Investment Advisors LLC Reduces Stake in Norfolk Southern Co. (NYSE:NSC)

Richwood Investment Advisors LLC lowered its holdings in Norfolk Southern Co. (NYSE:NSC) by 7.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 899 shares of the railroad operator’s stock after selling 70 shares during the quarter. Richwood Investment Advisors LLC’s holdings in Norfolk Southern were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NSC. Financial Life Planners purchased a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Keystone Financial Group Inc. purchased a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Vision Financial Markets LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at about $28,000. Finally, Atlantic Private Wealth LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Activity at Norfolk Southern

In other news, Director Gilbert H. Lamphere acquired 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NSC. Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and decreased their target price for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their target price on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Benchmark reissued a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a research report on Thursday, January 30th. Robert W. Baird upped their target price on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada upped their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $276.63.

Norfolk Southern Stock Down 0.7 %

NSC opened at $231.84 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The business has a 50 day simple moving average of $246.04 and a 200-day simple moving average of $249.82. The stock has a market capitalization of $52.50 billion, a P/E ratio of 20.06, a P/E/G ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, equities analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.33%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is currently 46.71%.

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.