Norfolk Southern Co. (NYSE:NSC) Shares Sold by Lokken Investment Group LLC

Lokken Investment Group LLC cut its holdings in Norfolk Southern Co. (NYSE:NSC) by 14.8% in the 4th quarter, HoldingsChannel reports. The fund owned 872 shares of the railroad operator’s stock after selling 152 shares during the period. Lokken Investment Group LLC’s holdings in Norfolk Southern were worth $205,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NSC. Financial Life Planners acquired a new position in Norfolk Southern during the fourth quarter worth approximately $27,000. Keystone Financial Group Inc. purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at $27,000. Bank of Jackson Hole Trust acquired a new stake in shares of Norfolk Southern during the 4th quarter worth $27,000. Vision Financial Markets LLC purchased a new position in shares of Norfolk Southern in the 4th quarter worth $28,000. Finally, Atlantic Private Wealth LLC acquired a new position in Norfolk Southern in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NSC opened at $237.24 on Tuesday. The stock has a market capitalization of $53.72 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The company’s 50 day simple moving average is $245.12 and its 200-day simple moving average is $248.93.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Sell-side analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.28%. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NSC. Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and decreased their target price for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Bank of America decreased their price objective on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Wells Fargo & Company dropped their price objective on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a report on Friday, March 7th. They set a “buy” rating and a $293.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $274.84.

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction that occurred 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 purchase, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.19% of the stock is owned by insiders.

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.