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

South Dakota Investment Council trimmed its holdings in Norfolk Southern Co. (NYSE:NSC) by 0.7% during the fourth quarter, according to its most recent disclosure 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 period. South Dakota Investment Council’s holdings in Norfolk Southern were worth $10,020,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern in the third quarter valued at about $25,000. Financial Life Planners purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $27,000. Keystone Financial Group Inc. purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $27,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern in the third quarter valued at about $30,000. 75.10% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction that occurred on 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 acquisition, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sameh Fahmy purchased 350 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Norfolk Southern Trading Down 0.6 %

Shares of Norfolk Southern stock opened at $247.84 on Friday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The firm has a market cap of $56.12 billion, a PE ratio of 21.44, a PEG ratio of 2.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The company has a 50 day simple moving average of $245.46 and a two-hundred day simple moving average of $250.71.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.18%. Norfolk Southern’s dividend payout ratio (DPR) is 46.71%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NSC. Robert W. Baird increased their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada raised their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Susquehanna decreased their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Loop Capital downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and reduced their target price for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, Stephens lifted 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 note 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.11.

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.