Arete Wealth Advisors LLC Sells 98 Shares of Norfolk Southern Co. (NYSE:NSC)

Arete Wealth Advisors LLC trimmed its position in shares of Norfolk Southern Co. (NYSE:NSCGet Rating) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,473 shares of the railroad operator’s stock after selling 98 shares during the period. Arete Wealth Advisors LLC’s holdings in Norfolk Southern were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Centric Wealth Management boosted its holdings in shares of Norfolk Southern by 1.3% in the first quarter. Centric Wealth Management now owns 3,025 shares of the railroad operator’s stock worth $863,000 after acquiring an additional 39 shares during the period. Wetherby Asset Management Inc. boosted its holdings in shares of Norfolk Southern by 0.6% in the fourth quarter. Wetherby Asset Management Inc. now owns 6,382 shares of the railroad operator’s stock worth $1,900,000 after acquiring an additional 40 shares during the period. CVA Family Office LLC boosted its holdings in shares of Norfolk Southern by 3.2% in the first quarter. CVA Family Office LLC now owns 1,282 shares of the railroad operator’s stock worth $366,000 after acquiring an additional 40 shares during the period. Institute for Wealth Management LLC. boosted its holdings in shares of Norfolk Southern by 3.3% in the first quarter. Institute for Wealth Management LLC. now owns 1,257 shares of the railroad operator’s stock worth $359,000 after acquiring an additional 40 shares during the period. Finally, Venture Visionary Partners LLC boosted its holdings in shares of Norfolk Southern by 0.9% in the fourth quarter. Venture Visionary Partners LLC now owns 4,567 shares of the railroad operator’s stock worth $1,359,000 after acquiring an additional 41 shares during the period. 73.63% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Alan H. Shaw sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $241.84, for a total transaction of $241,840.00. Following the completion of the transaction, the chief executive officer now owns 34,255 shares of the company’s stock, valued at $8,284,229.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Alan H. Shaw sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $241.84, for a total transaction of $241,840.00. Following the completion of the transaction, the chief executive officer now owns 34,255 shares of the company’s stock, valued at $8,284,229.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James A. Squires sold 105,420 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $248.81, for a total transaction of $26,229,550.20. Following the transaction, the director now directly owns 42,728 shares of the company’s stock, valued at approximately $10,631,153.68. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Norfolk Southern Trading Up 0.5 %

NYSE NSC opened at $251.02 on Friday. The company has a fifty day simple moving average of $234.32 and a two-hundred day simple moving average of $253.77. The stock has a market cap of $58.96 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.86 and a beta of 1.32. Norfolk Southern Co. has a 12-month low of $217.00 and a 12-month high of $299.20. The company has a current ratio of 1.10, a quick ratio of 0.98 and a debt-to-equity ratio of 1.10.

Norfolk Southern (NYSE:NSCGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The railroad operator reported $3.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.03). The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Norfolk Southern had a return on equity of 22.42% and a net margin of 25.57%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.28 EPS. On average, analysts forecast that Norfolk Southern Co. will post 13.67 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, August 20th. Shareholders of record on Monday, August 8th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 1.98%. Norfolk Southern’s dividend payout ratio is currently 39.49%.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of analyst reports. Susquehanna Bancshares cut their price target on Norfolk Southern from $350.00 to $275.00 in a report on Wednesday, July 6th. Evercore ISI lowered their price objective on Norfolk Southern from $278.00 to $266.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 12th. Citigroup downgraded Norfolk Southern from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $345.00 to $260.00 in a research report on Thursday, May 19th. JPMorgan Chase & Co. downgraded Norfolk Southern from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $306.00 to $258.00 in a research report on Tuesday, July 12th. Finally, Credit Suisse Group began coverage on Norfolk Southern in a research report on Monday, June 27th. They set an “outperform” rating and a $267.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $283.10.

About Norfolk Southern

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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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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