UNIVEST FINANCIAL Corp Trims Holdings in Norfolk Southern Co. (NYSE:NSC)

UNIVEST FINANCIAL Corp reduced its position in shares of Norfolk Southern Co. (NYSE:NSC) by 20.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,698 shares of the railroad operator’s stock after selling 958 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Norfolk Southern were worth $868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NSC. Vanguard Group Inc. boosted its position in Norfolk Southern by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,089,164 shares of the railroad operator’s stock worth $4,714,927,000 after acquiring an additional 139,485 shares during the last quarter. State Street Corp boosted its holdings in shares of Norfolk Southern by 2.1% during the third quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock worth $2,318,716,000 after purchasing an additional 196,249 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Norfolk Southern by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock valued at $1,133,828,000 after purchasing an additional 62,186 shares during the period. Boston Partners grew its position in shares of Norfolk Southern by 16.9% in the fourth quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock valued at $945,385,000 after purchasing an additional 580,293 shares during the period. Finally, EdgePoint Investment Group Inc. increased its stake in Norfolk Southern by 2.7% in the third quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock valued at $967,340,000 after purchasing an additional 103,281 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Norfolk Southern Stock Up 0.7 %

Shares of NYSE:NSC opened at $235.65 on Thursday. The company has a 50 day moving average of $245.81 and a two-hundred day moving average of $249.42. 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 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $53.36 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) 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%. As a group, analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Wall Street Analyst Weigh In

NSC has been the subject of several recent analyst reports. Susquehanna lowered their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Bank of America lowered their target price on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a report on Tuesday. Robert W. Baird increased their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Wells Fargo & Company lowered their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $275.63.

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.