Rede Wealth LLC Sells 75 Shares of Norfolk Southern Corporation $NSC

by · The Markets Daily

Rede Wealth LLC trimmed its position in shares of Norfolk Southern Corporation (NYSE:NSC – Free Report) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,399 shares of the railroad operator’s stock after selling 75 shares during the period. Rede Wealth LLC’s holdings in Norfolk Southern were worth $614,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. WPG Advisers LLC purchased a new position in Norfolk Southern during the first quarter valued at $27,000. Financial Gravity Asset Management Inc. bought a new stake in Norfolk Southern in the 1st quarter valued at $41,000. Golden State Wealth Management LLC increased its holdings in Norfolk Southern by 883.3% in the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after acquiring an additional 159 shares during the last quarter. Pinnacle Bancorp Inc. increased its holdings in Norfolk Southern by 30.5% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock valued at $47,000 after acquiring an additional 43 shares during the last quarter. Finally, Chung Wu Investment Group LLC bought a new stake in Norfolk Southern in the 2nd quarter valued at $51,000. 75.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Richard H. Anderson bought 2,600 shares of Norfolk Southern stock in a transaction dated Monday, October 27th. The shares were purchased at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the acquisition, the director directly owned 7,000 shares in the company, valued at approximately $1,973,020. This represents a 59.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.06% of the stock is currently owned by company insiders.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $283.91 on Friday. The company’s 50-day moving average price is $285.55 and its 200-day moving average price is $264.73. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The company has a market cap of $63.71 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33.

Norfolk Southern (NYSE:NSC – Get Free Report) last posted its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter last year, the firm earned $3.25 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be issued a $1.35 dividend. The ex-dividend date is Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern’s payout ratio is 41.19%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of Norfolk Southern from $285.00 to $305.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Susquehanna lifted their price target on shares of Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Royal Bank Of Canada reduced their price target on shares of Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating on the stock in a report on Friday, October 24th. Bank of America lifted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Finally, Weiss Ratings downgraded shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $299.70.

Read Our Latest Analysis on NSC

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.

See Also

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