Atria Wealth Solutions Inc. Sells 2,328 Shares of Norfolk Southern Corporation (NYSE:NSC)

Atria Wealth Solutions Inc. lowered its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 27.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,033 shares of the railroad operator's stock after selling 2,328 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Norfolk Southern were worth $1,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NSC. GAMMA Investing LLC grew its stake in Norfolk Southern by 25,555.7% in the first quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator's stock valued at $234,433,000 after purchasing an additional 985,938 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Norfolk Southern by 11.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock worth $2,020,318,000 after buying an additional 918,559 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Norfolk Southern by 293.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator's stock worth $157,643,000 after buying an additional 501,053 shares during the last quarter. Phoenix Financial Ltd. acquired a new stake in shares of Norfolk Southern in the first quarter worth about $110,209,000. Finally, Northern Trust Corp lifted its position in shares of Norfolk Southern by 8.9% in the fourth quarter. Northern Trust Corp now owns 2,870,443 shares of the railroad operator's stock worth $673,693,000 after buying an additional 233,927 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Up 1.4%

Shares of NSC stock traded up $3.81 during mid-day trading on Wednesday, reaching $282.05. The stock had a trading volume of 1,520,358 shares, compared to its average volume of 1,555,256. The stock's 50-day moving average price is $264.83 and its two-hundred day moving average price is $246.15. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $288.11. The firm has a market capitalization of $63.35 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.47 and a beta of 1.31. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.10 billion. Equities analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 1st. Norfolk Southern's payout ratio is presently 36.49%.

Analyst Ratings Changes

Several brokerages recently weighed in on NSC. UBS Group increased their target price on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Royal Bank Of Canada cut Norfolk Southern from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 29th. Citigroup increased their price target on Norfolk Southern from $288.00 to $305.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Jefferies Financial Group restated a "hold" rating and set a $300.00 price target on shares of Norfolk Southern in a research report on Friday, July 25th. Finally, Sanford C. Bernstein increased their price target on Norfolk Southern from $295.00 to $305.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $285.15.

About Norfolk Southern

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.