Sumitomo Life Insurance Co. Sells 119 Shares of Norfolk Southern Co. (NYSE:NSC)

Sumitomo Life Insurance Co. trimmed its holdings in Norfolk Southern Co. (NYSE:NSC) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,255 shares of the railroad operator’s stock after selling 119 shares during the period. Sumitomo Life Insurance Co.’s holdings in Norfolk Southern were worth $764,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Fulton Breakefield Broenniman LLC boosted its holdings in Norfolk Southern by 11.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 1,207 shares of the railroad operator’s stock worth $283,000 after purchasing an additional 125 shares in the last quarter. VCI Wealth Management LLC boosted its stake in shares of Norfolk Southern by 39.8% during the 4th quarter. VCI Wealth Management LLC now owns 6,290 shares of the railroad operator’s stock worth $1,476,000 after acquiring an additional 1,791 shares in the last quarter. W Advisors LLC increased its holdings in shares of Norfolk Southern by 39.0% during the 4th quarter. W Advisors LLC now owns 2,101 shares of the railroad operator’s stock valued at $493,000 after acquiring an additional 590 shares during the last quarter. Lebenthal Global Advisors LLC bought a new position in shares of Norfolk Southern in the 4th quarter valued at approximately $544,000. Finally, Foundations Investment Advisors LLC lifted its holdings in Norfolk Southern by 3.2% in the 4th quarter. Foundations Investment Advisors LLC now owns 2,075 shares of the railroad operator’s stock worth $487,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 1.8 %

Shares of NSC opened at $256.78 on Thursday. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The stock has a market cap of $58.09 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 2.29 and a beta of 1.34. The company has a 50-day moving average price of $249.41 and a two-hundred day moving average price of $248.64. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Equities analysts predict that Norfolk Southern Co. will post 11.78 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, February 7th. Norfolk Southern’s payout ratio is 50.70%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NSC shares. Loop Capital lifted their price target on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI cut their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. UBS Group raised their price target on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays boosted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Benchmark lifted their price target on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and an average price target of $277.39.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy purchased 350 shares of the company’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 acquisition, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by 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.