Forvis Mazars Wealth Advisors LLC Cuts Holdings in Norfolk Southern Co. (NYSE:NSC)

Forvis Mazars Wealth Advisors LLC reduced its position in Norfolk Southern Co. (NYSE:NSC) by 4.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 952 shares of the railroad operator’s stock after selling 44 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Norfolk Southern were worth $223,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Raab & Moskowitz Asset Management LLC raised its holdings in shares of Norfolk Southern by 2.4% during the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after buying an additional 41 shares during the last quarter. Archer Investment Corp raised its holdings in Norfolk Southern by 2.3% during the third quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after purchasing an additional 43 shares in the last quarter. Albert D Mason Inc. raised its holdings in Norfolk Southern by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after purchasing an additional 46 shares in the last quarter. Maia Wealth LLC raised its holdings in Norfolk Southern by 4.7% during the third quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock worth $264,000 after purchasing an additional 47 shares in the last quarter. Finally, Signal Advisors Wealth LLC raised its holdings in Norfolk Southern by 5.4% during the fourth quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator’s stock worth $225,000 after purchasing an additional 49 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 1.6 %

NYSE NSC opened at $243.75 on Tuesday. 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 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a market cap of $55.19 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.31 and a beta of 1.35. The firm’s 50 day moving average price is $245.47 and its two-hundred day moving average price is $250.79.

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

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NSC shares. Susquehanna dropped their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird boosted their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price target for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $276.11.

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.