Norfolk Southern Co. (NYSE:NSC) Stake Reduced by Bragg Financial Advisors Inc

Bragg Financial Advisors Inc trimmed its stake in Norfolk Southern Co. (NYSE:NSC) by 16.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,477 shares of the railroad operator’s stock after selling 287 shares during the quarter. Bragg Financial Advisors Inc’s holdings in Norfolk Southern were worth $347,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Financial Life Planners acquired a new position in Norfolk Southern during the 4th quarter valued at about $27,000. Keystone Financial Group Inc. acquired a new position in shares of Norfolk Southern during the fourth quarter worth approximately $27,000. Bank of Jackson Hole Trust bought a new position in Norfolk Southern in the 4th quarter worth approximately $27,000. Vision Financial Markets LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at approximately $28,000. Finally, Atlantic Private Wealth LLC bought a new stake in Norfolk Southern during the 4th quarter valued at $29,000. Institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere acquired 607 shares of the company’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC opened at $221.06 on Tuesday. The company has a 50-day moving average of $236.57 and a two-hundred day moving average of $246.56. The stock has a market cap of $54.50 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60.

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

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.44%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird raised their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a research note on Friday, March 7th. They set a “buy” rating and a $293.00 target price on the stock. Royal Bank of Canada upped their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Bank of America cut their target price on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.79.

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.