Norfolk Southern Co. (NYSE:NSC) Stake Reduced by Main Street Research LLC

Main Street Research LLC cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 11.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,587 shares of the railroad operator’s stock after selling 209 shares during the period. Main Street Research LLC’s holdings in Norfolk Southern were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Life Planners bought a new stake in shares of Norfolk Southern in the 4th quarter worth $27,000. Keystone Financial Group Inc. acquired a new stake in Norfolk Southern during the fourth quarter valued at $27,000. Bank of Jackson Hole Trust bought a new stake in shares of Norfolk Southern during the 4th quarter worth about $27,000. Vision Financial Markets LLC bought a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $28,000. Finally, Morse Asset Management Inc acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $30,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NSC shares. Susquehanna reduced their price objective on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Norfolk Southern in a research report on Friday. They issued a “buy” rating and a $293.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Stephens boosted their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.95.

Insider Buying and Selling at Norfolk Southern

In other news, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Up 2.4 %

Shares of NYSE NSC opened at $243.89 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $55.22 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The firm’s 50-day moving average is $246.51 and its 200-day moving average is $250.92. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.21%. Norfolk Southern’s dividend payout ratio is presently 46.71%.

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.