Fruth Investment Management Sells 70 Shares of Norfolk Southern Co. (NYSE:NSC)

Fruth Investment Management reduced its position in Norfolk Southern Co. (NYSE:NSC) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,608 shares of the railroad operator’s stock after selling 70 shares during the quarter. Fruth Investment Management’s holdings in Norfolk Southern were worth $2,020,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Norfolk Southern by 2.1% during the third quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock worth $2,318,716,000 after acquiring an additional 196,249 shares in the last quarter. Geode Capital Management LLC lifted its stake in Norfolk Southern by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after purchasing an additional 62,186 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Norfolk Southern by 2.7% during the third quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock valued at $967,340,000 after buying an additional 103,281 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Norfolk Southern by 18,831.2% in the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after buying an additional 3,280,579 shares during the period. Finally, FMR LLC lifted its stake in shares of Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after acquiring an additional 881,415 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gilbert H. Lamphere acquired 607 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Down 0.1 %

NSC stock opened at $252.66 on Thursday. The stock has a market capitalization of $57.16 billion, a P/E ratio of 21.86, a P/E/G ratio of 2.35 and a beta of 1.35. 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 1-year low of $206.71 and a 1-year high of $277.60. The business has a fifty day moving average price of $247.98 and a 200-day moving average price of $249.47.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Equities analysts forecast that Norfolk Southern Co. will post 13.07 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.14%. Norfolk Southern’s payout ratio is 46.71%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NSC. Citigroup upped their price target on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada boosted their price target on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Bank of America increased their price objective on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI dropped their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Stephens upped their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

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.