CIBC Private Wealth Group LLC Trims Position in Norfolk Southern Co. (NYSE:NSC)

CIBC Private Wealth Group LLC cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 42,716 shares of the railroad operator’s stock after selling 107 shares during the period. CIBC Private Wealth Group LLC’s holdings in Norfolk Southern were worth $10,120,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. RWA Wealth Partners LLC increased its holdings in Norfolk Southern by 1.9% during the 4th quarter. RWA Wealth Partners LLC now owns 5,105 shares of the railroad operator’s stock worth $1,198,000 after acquiring an additional 94 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Norfolk Southern by 6.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 357,722 shares of the railroad operator’s stock valued at $83,957,000 after purchasing an additional 20,440 shares in the last quarter. Allianz SE bought a new position in shares of Norfolk Southern in the fourth quarter worth $187,000. WealthTrak Capital Management LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth $141,000. Finally, Allstate Corp purchased a new position in Norfolk Southern during the fourth quarter worth about $1,575,000. 75.10% of the stock is currently owned by institutional investors.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was purchased 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Norfolk Southern in a research report on Friday, March 7th. They set a “buy” rating and a $293.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Benchmark restated a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday, January 30th. Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and cut their target price for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Finally, Robert W. Baird raised their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $274.84.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $236.46 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The firm has a market cap of $53.54 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The firm has a 50-day moving average of $244.81 and a 200-day moving average of $248.86.

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 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%. Sell-side analysts expect that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.28%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

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.