Cornerstone Advisors LLC Cuts Stake in Norfolk Southern Corporation $NSC

Cornerstone Advisors LLC lessened its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 6.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,300 shares of the railroad operator’s stock after selling 1,700 shares during the period. Cornerstone Advisors LLC’s holdings in Norfolk Southern were worth $7,000,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NSC. Tritonpoint Wealth LLC increased its stake in shares of Norfolk Southern by 3.5% during the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock worth $313,000 after purchasing an additional 35 shares during the last quarter. Massachusetts Wealth Management grew its holdings in Norfolk Southern by 0.6% during the third quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock valued at $1,798,000 after purchasing an additional 35 shares during the period. ORG Partners LLC increased its position in Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Horan Securities Inc. raised its stake in shares of Norfolk Southern by 2.1% in the second quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock valued at $452,000 after buying an additional 37 shares during the period. Finally, Inspirion Wealth Advisors LLC raised its stake in shares of Norfolk Southern by 1.9% in the third quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator’s stock valued at $603,000 after buying an additional 37 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NSC stock opened at $316.94 on Thursday. The firm has a 50 day moving average of $295.20 and a 200-day moving average of $288.81. The firm has a market capitalization of $71.17 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 5.62 and a beta of 1.34. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $319.94. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.46. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.04 EPS. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NSC shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Norfolk Southern in a research note on Thursday, January 22nd. UBS Group lowered shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price for the company. in a research report on Friday, February 6th. Evercore lifted their target price on shares of Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. Citigroup dropped their price target on shares of Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Finally, Susquehanna lifted their price objective on shares of Norfolk Southern from $304.00 to $305.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and an average target price of $304.47.

Insider Buying and Selling

In other Norfolk Southern news, Director William Jr. Clyburn bought 204 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were acquired at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the purchase, the director directly owned 405 shares of the company’s stock, valued at $119,389.95. The trade was a 101.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.