Envestnet Asset Management Inc. Decreases Position in Norfolk Southern Corporation $NSC

Envestnet Asset Management Inc. lessened its stake in Norfolk Southern Corporation (NYSE:NSC) by 13.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 386,090 shares of the railroad operator’s stock after selling 60,037 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Norfolk Southern were worth $115,985,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. ORG Partners LLC raised its stake in Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after acquiring an additional 36 shares during the period. Westside Investment Management Inc. grew its holdings in shares of Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after purchasing an additional 58 shares during the last quarter. BNP Paribas acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth approximately $26,000. Highline Wealth Partners LLC raised its position in shares of Norfolk Southern by 68.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock worth $31,000 after purchasing an additional 42 shares during the period. Finally, True Wealth Design LLC lifted its holdings in shares of Norfolk Southern by 423.8% in the 2nd quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after purchasing an additional 89 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Norfolk Southern

In other news, Director William Jr. Clyburn bought 204 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were acquired at an average cost of $294.79 per share, with a total value of $60,137.16. Following the completion of the transaction, the director directly owned 405 shares in the company, valued at approximately $119,389.95. The trade was a 101.49% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Anil Bhatt sold 900 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total value of $253,440.00. Following the completion of the sale, the executive vice president owned 1,413 shares of the company’s stock, valued at $397,900.80. The trade was a 38.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NSC. Royal Bank Of Canada dropped their target price on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating on the stock in a research report on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Norfolk Southern in a research note on Thursday, January 22nd. Zacks Research cut Norfolk Southern from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 19th. Morgan Stanley raised Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Finally, Barclays lowered their target price on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Seven analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $304.47.

Norfolk Southern Trading Down 0.1%

Norfolk Southern stock opened at $306.64 on Friday. The firm has a market cap of $68.81 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 5.46 and a beta of 1.34. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $309.21. The firm’s 50 day moving average price is $291.69 and its two-hundred day moving average price is $286.82. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85.

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

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders 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 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern’s dividend payout ratio is currently 42.35%.

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.