Waverly Advisors LLC Sells 1,627 Shares of Norfolk Southern Co. (NYSE:NSC)

Waverly Advisors LLC lessened its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 15.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,199 shares of the railroad operator's stock after selling 1,627 shares during the period. Waverly Advisors LLC's holdings in Norfolk Southern were worth $2,159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in Norfolk Southern during the fourth quarter worth $27,000. Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern during the 4th quarter valued at $27,000. Bank of Jackson Hole Trust acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $27,000. Vision Financial Markets LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth $28,000. Finally, Atlantic Private Wealth LLC acquired a new position in Norfolk Southern in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NSC shares. Loop Capital lowered Norfolk Southern from a "buy" rating to a "hold" rating and reduced their target price for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Stephens boosted their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Royal Bank of Canada decreased their target price on shares of Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group cut their target price on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Benchmark reaffirmed a "buy" rating and set a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $266.50.

Norfolk Southern Stock Down 0.4%

Shares of NSC traded down $0.94 during trading hours on Wednesday, reaching $243.85. The stock had a trading volume of 259,714 shares, compared to its average volume of 1,207,630. The firm has a 50-day simple moving average of $227.48 and a 200 day simple moving average of $241.58. Norfolk Southern Co. has a 12 month low of $201.63 and a 12 month high of $277.60. 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 company has a market capitalization of $54.97 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm earned $2.49 earnings per share. The company's revenue was down .4% on a year-over-year basis. Equities research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.21%. Norfolk Southern's dividend payout ratio is presently 36.89%.

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.