South Dakota Investment Council Sells 322 Shares of Norfolk Southern Co. (NYSE:NSC)

South Dakota Investment Council cut its stake in Norfolk Southern Co. (NYSE:NSC) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,692 shares of the railroad operator’s stock after selling 322 shares during the quarter. South Dakota Investment Council’s holdings in Norfolk Southern were worth $10,020,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock worth $63,417,000 after buying an additional 8,844 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Norfolk Southern by 20.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after buying an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Norfolk Southern by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after buying an additional 3,621 shares during the period. Pathway Financial Advisers LLC grew its position in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after buying an additional 889,925 shares during the period. Finally, Caprock Group LLC purchased a new stake in shares of Norfolk Southern in the 4th quarter worth about $1,796,000. 75.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NSC. Stephens upped their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Benchmark reissued a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday, January 30th. Robert W. Baird increased their price objective 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. Citigroup increased their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. 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 equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $247.84 on Friday. The firm’s 50 day moving average price is $245.46 and its 200-day moving average price is $250.71. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $56.12 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data 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%. Equities research analysts expect that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Insiders Place Their Bets

In other news, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The shares were bought at an average price of $259.86 per share, for a total transaction 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 disclosure for this purchase can be found here. 0.19% of the stock is owned by company 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.