Atria Wealth Solutions Inc. Reduces Position in Norfolk Southern Co. (NYSE:NSC)

Atria Wealth Solutions Inc. cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,361 shares of the railroad operator’s stock after selling 903 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Norfolk Southern were worth $1,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern in the third quarter worth about $25,000. Financial Life Planners purchased a new stake in shares of Norfolk Southern in the fourth quarter worth about $27,000. Keystone Financial Group Inc. purchased a new stake in shares of Norfolk Southern in the fourth quarter worth about $27,000. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern in the third quarter worth about $30,000. Finally, Coastline Trust Co purchased a new stake in shares of Norfolk Southern in the third quarter worth about $32,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $247.84 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $56.12 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.31 and a beta of 1.35. The business has a fifty day simple moving average of $245.46 and a two-hundred day simple moving average of $250.71. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60.

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

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.18%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Stephens increased their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Robert W. Baird raised their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Benchmark reaffirmed a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a research note on Thursday, January 30th. One 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $276.11.

Insider Buying and Selling at Norfolk Southern

In related news, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the transaction, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sameh Fahmy purchased 350 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now owns 10,350 shares in the company, valued at $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern 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.