National Pension Service Sells 14,691 Shares of Norfolk Southern Co. (NYSE:NSC)

National Pension Service lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 2.8% during the fourth quarter, Holdings Channel reports. The fund owned 506,129 shares of the railroad operator’s stock after selling 14,691 shares during the period. National Pension Service’s holdings in Norfolk Southern were worth $118,788,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new stake in Norfolk Southern during the 3rd quarter worth about $25,000. Financial Life Planners acquired a new position in Norfolk Southern during the 4th quarter valued at about $27,000. Keystone Financial Group Inc. acquired a new position in Norfolk Southern during the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust acquired a new position in Norfolk Southern during the 4th quarter valued at about $27,000. Finally, Morse Asset Management Inc acquired a new position in Norfolk Southern during the 3rd quarter valued at about $30,000. Institutional investors own 75.10% of the company’s stock.

Insider Transactions 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 acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $241.77 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The company has a market capitalization of $54.74 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The company’s 50 day moving average price is $245.60 and its two-hundred day moving average price is $250.77. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60.

Norfolk Southern (NYSE:NSC) last issued its quarterly 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%. On average, analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.23%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays upped their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Benchmark restated a “buy” rating and set a $285.00 target price on shares of Norfolk Southern in a research report on Thursday, January 30th. Loop Capital downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and cut their target price for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Citigroup upped their target price 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, Royal Bank of Canada increased their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and an average price target of $276.11.

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.