Maryland State Retirement & Pension System Sells 845 Shares of Norfolk Southern Co. (NYSE:NSC)

Maryland State Retirement & Pension System decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,069 shares of the railroad operator’s stock after selling 845 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Norfolk Southern were worth $2,833,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Xponance Inc. lifted its holdings in Norfolk Southern by 1.2% during the 4th quarter. Xponance Inc. now owns 31,408 shares of the railroad operator’s stock valued at $7,371,000 after buying an additional 371 shares in the last quarter. Boston Partners lifted its holdings in Norfolk Southern by 16.9% during the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock valued at $945,385,000 after buying an additional 580,293 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in Norfolk Southern during the 4th quarter valued at about $4,139,000. Advisors Asset Management Inc. lifted its holdings in Norfolk Southern by 21.0% during the 4th quarter. Advisors Asset Management Inc. now owns 24,348 shares of the railroad operator’s stock valued at $5,714,000 after buying an additional 4,224 shares in the last quarter. Finally, Haven Capital Group Inc. bought a new stake in Norfolk Southern during the 4th quarter valued at about $253,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.5 %

NYSE:NSC opened at $233.45 on Friday. The company has a market cap of $52.86 billion, a PE ratio of 20.19, a P/E/G ratio of 2.31 and a beta of 1.35. 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’s 50 day moving average is $246.07 and its two-hundred day moving average is $250.02.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping 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 anticipate that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NSC. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They set a “buy” rating and a $293.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Stephens raised 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 report on Thursday, January 30th. Robert W. Baird raised their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company cut their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.95.

About Norfolk Southern

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.