Norfolk Southern Co. (NYSE:NSC) Shares Sold by Manchester Capital Management LLC

Manchester Capital Management LLC reduced its position in Norfolk Southern Co. (NYSE:NSC) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,220 shares of the railroad operator’s stock after selling 92 shares during the quarter. Manchester Capital Management LLC’s holdings in Norfolk Southern were worth $286,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NSC. Highline Wealth Partners LLC acquired a new position in Norfolk Southern in the 3rd quarter valued at $25,000. Financial Life Planners purchased a new stake in Norfolk Southern in the 4th quarter valued at $27,000. Keystone Financial Group Inc. purchased a new stake in Norfolk Southern in the 4th quarter valued at $27,000. Morse Asset Management Inc purchased a new stake in Norfolk Southern in the 3rd quarter valued at $30,000. Finally, Coastline Trust Co purchased a new stake in Norfolk Southern in the 3rd quarter valued at $32,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NSC has been the subject of several analyst reports. Susquehanna dropped their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. UBS Group upped their target price on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price target on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Robert W. Baird increased their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $276.11.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the transaction, the director now owns 2,487 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the transaction, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Norfolk Southern Price Performance

NSC stock opened at $255.90 on Friday. 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 firm has a market capitalization of $57.89 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.32 and a beta of 1.35. The business’s 50-day moving average is $245.35 and its two-hundred day moving average is $250.44. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results 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 20.04% and a net margin of 21.63%. Analysts anticipate that Norfolk Southern Co. will post 13.02 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 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.