Cannon Wealth Management Services LLC Has $417,000 Position in Norfolk Southern Co. (NYSE:NSC)

Cannon Wealth Management Services LLC cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 10.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,667 shares of the railroad operator’s stock after selling 198 shares during the quarter. Cannon Wealth Management Services LLC’s holdings in Norfolk Southern were worth $417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lake Street Advisors Group LLC raised its position in shares of Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after acquiring an additional 41 shares in the last quarter. Raab & Moskowitz Asset Management LLC raised its position in shares of Norfolk Southern by 2.4% in the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after acquiring an additional 41 shares in the last quarter. Archer Investment Corp raised its position in shares of Norfolk Southern by 2.3% in the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after acquiring an additional 43 shares in the last quarter. Albert D Mason Inc. raised its position in shares of Norfolk Southern by 0.7% in the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after acquiring an additional 46 shares in the last quarter. Finally, Maia Wealth LLC raised its position in shares of Norfolk Southern by 4.7% in the 3rd quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock worth $264,000 after acquiring an additional 47 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Sameh Fahmy acquired 350 shares of Norfolk Southern stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NSC. Benchmark reissued a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday, January 30th. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Wells Fargo & Company dropped their price target on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Susquehanna dropped their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup upped their price target on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $276.11.

Norfolk Southern Stock Performance

NSC stock opened at $247.84 on Monday. The firm has a market cap of $56.12 billion, a PE ratio of 21.44, a P/E/G ratio of 2.31 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average of $245.46 and a 200-day moving average of $250.78. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (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%. As a group, sell-side analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is presently 46.71%.

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.