Cetera Investment Advisers Acquires 40,543 Shares of Norfolk Southern Co. (NYSE:NSC)

Cetera Investment Advisers increased its stake in Norfolk Southern Co. (NYSE:NSC) by 260.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,127 shares of the railroad operator’s stock after buying an additional 40,543 shares during the period. Cetera Investment Advisers’ holdings in Norfolk Southern were worth $14,305,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Argus Investors Counsel Inc. purchased a new stake in Norfolk Southern in the fourth quarter worth about $236,000. Trust Point Inc. purchased a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $350,000. International Assets Investment Management LLC boosted its position in Norfolk Southern by 23,585.8% during the 4th quarter. International Assets Investment Management LLC now owns 351,261 shares of the railroad operator’s stock valued at $83,031,000 after acquiring an additional 349,778 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in shares of Norfolk Southern by 35.0% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 12,669 shares of the railroad operator’s stock valued at $2,995,000 after acquiring an additional 3,288 shares during the period. Finally, Stratos Wealth Advisors LLC raised its position in shares of Norfolk Southern by 32.3% in the 4th quarter. Stratos Wealth Advisors LLC now owns 1,532 shares of the railroad operator’s stock worth $362,000 after acquiring an additional 374 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NSC shares. Morgan Stanley reiterated an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. Wells Fargo & Company increased their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. TD Cowen boosted their target price on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada decreased their price target on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, Stifel Nicolaus boosted their price target on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus price target of $264.24.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $243.41 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The firm has a market cap of $55.04 billion, a PE ratio of 39.20, a PEG ratio of 2.41 and a beta of 1.32. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The firm has a fifty day moving average of $224.58 and a 200 day moving average of $238.20.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the business posted $2.95 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts predict that Norfolk Southern Co. will post 11.78 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, August 2nd. Norfolk Southern’s payout ratio is 86.96%.

Insider Transactions at Norfolk Southern

In related news, Director Richard H. Anderson purchased 2,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $742,440. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard H. Anderson bought 2,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were acquired at an average cost of $247.48 per share, with a total value of $494,960.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at $742,440. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 9,650 shares of company stock valued at $2,182,110. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern 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.