B. Riley Wealth Advisors Inc. Buys 2,494 Shares of Norfolk Southern Co. (NYSE:NSC)

B. Riley Wealth Advisors Inc. raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 31.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,361 shares of the railroad operator’s stock after purchasing an additional 2,494 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Norfolk Southern were worth $2,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dynasty Wealth Management LLC acquired a new position in Norfolk Southern during the 1st quarter worth approximately $841,000. Waverly Advisors LLC boosted its stake in shares of Norfolk Southern by 2.8% in the 1st quarter. Waverly Advisors LLC now owns 10,463 shares of the railroad operator’s stock valued at $2,667,000 after purchasing an additional 289 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Norfolk Southern by 3.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 22,144 shares of the railroad operator’s stock valued at $5,644,000 after purchasing an additional 771 shares during the last quarter. SVB Wealth LLC boosted its stake in Norfolk Southern by 57.1% during the first quarter. SVB Wealth LLC now owns 3,906 shares of the railroad operator’s stock worth $996,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Carroll Investors Inc bought a new position in Norfolk Southern during the first quarter worth $529,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 0.1 %

NYSE:NSC opened at $249.54 on Thursday. The firm’s 50-day moving average price is $223.85 and its 200-day moving average price is $237.99. The company has a market capitalization of $56.42 billion, a PE ratio of 40.18, a P/E/G ratio of 2.44 and a beta of 1.32. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66.

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

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, August 2nd. Norfolk Southern’s payout ratio is 86.96%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Sanford C. Bernstein cut their target price on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Benchmark raised their price objective on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group started coverage on shares of Norfolk Southern in a research report on Monday, April 8th. They set a “buy” rating and a $300.00 target price for the company. Barclays cut their target price on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Finally, Susquehanna increased their target price on shares of Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $264.24.

Insiders Place Their Bets

In related news, Director Richard H. Anderson acquired 2,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was acquired at an average cost of $247.48 per share, with a total value of $494,960.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $742,440. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Richard H. Anderson acquired 2,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was acquired at an average cost of $247.48 per share, with a total value of $494,960.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $742,440. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 9,650 shares of company stock worth $2,182,110. Company insiders own 0.19% of the company’s stock.

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.