Norfolk Southern Co. (NYSE:NSC) Shares Sold by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC lowered its position in shares of Norfolk Southern Co. (NYSE:NSC) by 11.8% in the 4th quarter, Holdings Channel reports. The fund owned 179,943 shares of the railroad operator’s stock after selling 24,005 shares during the period. Norfolk Southern comprises 2.1% of Cornerstone Investment Partners LLC’s investment portfolio, making the stock its 25th biggest holding. Cornerstone Investment Partners LLC’s holdings in Norfolk Southern were worth $42,233,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NSC. Raab & Moskowitz Asset Management LLC grew its position in Norfolk Southern by 2.4% in the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after buying an additional 41 shares in the last quarter. Archer Investment Corp grew its position in Norfolk Southern by 2.3% in the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock valued at $481,000 after buying an additional 43 shares in the last quarter. Albert D Mason Inc. grew its position in Norfolk Southern by 0.7% in the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock valued at $1,615,000 after buying an additional 46 shares in the last quarter. Maia Wealth LLC grew its position in Norfolk Southern by 4.7% in the 3rd quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock valued at $264,000 after buying an additional 47 shares in the last quarter. Finally, Signal Advisors Wealth LLC grew its position in Norfolk Southern by 5.4% in the 4th quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator’s stock valued at $225,000 after buying an additional 49 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

NSC has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their target price 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. Citigroup increased 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. JPMorgan Chase & Co. raised their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report 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. Finally, Barclays raised their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $276.11.

Norfolk Southern Price Performance

NYSE NSC opened at $244.90 on Tuesday. The company has a 50 day simple moving average of $246.25 and a 200-day simple moving average of $250.94. 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 firm has a market capitalization of $55.45 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Equities research analysts predict 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. Investors of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.20%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is presently 46.71%.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now owns 2,487 shares in the company, valued at $646,271.82. The trade was 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 hyperlink. Also, Director Sameh Fahmy acquired 350 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the transaction, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern 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.