Trifecta Capital Advisors LLC Sells 175 Shares of Norfolk Southern Co. (NYSE:NSC)

Trifecta Capital Advisors LLC decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 14.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,010 shares of the railroad operator’s stock after selling 175 shares during the period. Trifecta Capital Advisors LLC’s holdings in Norfolk Southern were worth $257,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its position in shares of Norfolk Southern by 662.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after buying an additional 106 shares during the period. Operose Advisors LLC bought a new stake in Norfolk Southern in the third quarter valued at $32,000. Orion Capital Management LLC acquired a new position in shares of Norfolk Southern during the third quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth about $32,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NSC. Susquehanna cut their price target on Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating on the stock in a report on Tuesday. Stifel Nicolaus upped their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Jefferies Financial Group began coverage on shares of Norfolk Southern in a report on Monday, April 8th. They set a “buy” rating and a $300.00 price objective for the company. Royal Bank of Canada upgraded shares of Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 target price on the stock in a report on Thursday, May 23rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $277.00 price target on shares of Norfolk Southern in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.89.

Insider Buying and Selling at Norfolk Southern

In other news, CMO Claude E. Elkins sold 8,329 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sameh Fahmy purchased 2,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $219.25 per share, with a total value of $438,500.00. Following the acquisition, the director now directly owns 7,000 shares of the company’s stock, valued at $1,534,750. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Claude E. Elkins sold 8,329 shares of the company’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 disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

NYSE NSC traded up $4.79 during trading on Friday, hitting $214.69. 1,584,755 shares of the company’s stock traded hands, compared to its average volume of 1,129,521. The stock has a market capitalization of $48.50 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 1.98 and a beta of 1.31. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. The business has a 50 day moving average of $227.10 and a 200-day moving average of $238.82. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66.

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

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were paid 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 currently 86.96%.

Norfolk Southern Company 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.