Norfolk Southern Co. (NYSE:NSC) Position Trimmed by Athena Investment Management

Athena Investment Management decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 4.3% in the 4th quarter, Holdings Channel reports. The firm owned 3,697 shares of the railroad operator’s stock after selling 166 shares during the quarter. Athena Investment Management’s holdings in Norfolk Southern were worth $868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Raab & Moskowitz Asset Management LLC increased its stake in Norfolk Southern by 2.4% during the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after purchasing an additional 41 shares during the last quarter. Archer Investment Corp increased its stake in Norfolk Southern by 2.3% during the third quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock valued at $481,000 after purchasing an additional 43 shares during the last quarter. Albert D Mason Inc. grew its position in shares of Norfolk Southern by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after acquiring an additional 46 shares during the last quarter. Maia Wealth LLC increased its holdings in shares of Norfolk Southern by 4.7% in the 3rd quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock worth $264,000 after acquiring an additional 47 shares during the period. Finally, Signal Advisors Wealth LLC increased its holdings in shares of Norfolk Southern by 5.4% in the 4th quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator’s stock worth $225,000 after acquiring an additional 49 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $245.96 on Friday. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. 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 company has a 50-day moving average of $246.07 and a 200-day moving average of $250.77. The firm has a market cap of $55.69 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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 20.04%. Analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NSC. Citigroup increased their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Susquehanna dropped their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird increased their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Stephens increased 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. Finally, JPMorgan Chase & Co. increased 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $276.11.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 350 shares of Norfolk Southern stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

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.