PFG Investments LLC Lowers Stake in Norfolk Southern Co. (NYSE:NSC)

PFG Investments LLC trimmed its position in Norfolk Southern Co. (NYSE:NSC) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,984 shares of the railroad operator’s stock after selling 46 shares during the quarter. PFG Investments LLC’s holdings in Norfolk Southern were worth $466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in Norfolk Southern in the third quarter valued at approximately $25,000. Morse Asset Management Inc purchased a new position in shares of Norfolk Southern in the 3rd quarter valued at $30,000. Coastline Trust Co purchased a new position in shares of Norfolk Southern in the 3rd quarter valued at $32,000. Capital Performance Advisors LLP acquired a new position in shares of Norfolk Southern during the 3rd quarter valued at $33,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Norfolk Southern during the 2nd quarter worth $39,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on NSC. Royal Bank of Canada raised their price objective on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday. Susquehanna reduced their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird upped their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday. Stephens lifted their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Loop Capital upped their target price on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $277.74.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. The trade was a 3.50 % 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 currently owned by company insiders.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $257.50 on Friday. The company has a market cap of $58.26 billion, a P/E ratio of 24.18, a PEG ratio of 2.29 and a beta of 1.34. The business has a 50 day moving average of $249.36 and a two-hundred day moving average of $248.69. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last released 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 return on equity of 20.25% and a net margin of 19.85%. As a group, analysts anticipate that Norfolk Southern Co. will post 11.78 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be given a $1.35 dividend. The ex-dividend date is Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.10%. Norfolk Southern’s dividend payout ratio is presently 50.70%.

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.