Tritonpoint Wealth LLC Sells 969 Shares of Norfolk Southern Co. (NYSE:NSC)

Tritonpoint Wealth LLC decreased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 48.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,012 shares of the railroad operator’s stock after selling 969 shares during the period. Tritonpoint Wealth LLC’s holdings in Norfolk Southern were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Lake Street Advisors Group LLC lifted its stake in Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after purchasing an additional 41 shares in the last quarter. Raab & Moskowitz Asset Management LLC increased its stake in Norfolk Southern by 2.4% in the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after acquiring an additional 41 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its position in shares of Norfolk Southern by 4.2% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after acquiring an additional 42 shares during the last quarter. Stratos Investment Management LLC grew its holdings in shares of Norfolk Southern by 3.8% in the third quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator’s stock valued at $287,000 after purchasing an additional 42 shares in the last quarter. Finally, Archer Investment Corp grew its stake in shares of Norfolk Southern by 2.3% in the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after buying an additional 43 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

NSC has been the topic of several recent research reports. Barclays upped their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Wells Fargo & Company dropped their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Stephens increased their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday. Jefferies Financial Group lifted their target price on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Benchmark reiterated a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average target price of $277.74.

Norfolk Southern Price Performance

NYSE NSC opened at $255.44 on Monday. The stock’s fifty day moving average price is $248.95 and its 200 day moving average price is $249.05. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The company has a market cap of $57.79 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 2.35 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.50%. As a group, equities research analysts forecast that Norfolk Southern Co. will post 13.17 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.11%. Norfolk Southern’s dividend payout ratio is presently 46.71%.

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.