CIBC Private Wealth Group LLC Sells 107 Shares of Norfolk Southern Co. (NYSE:NSC)

CIBC Private Wealth Group LLC lessened its position in shares of Norfolk Southern Co. (NYSE:NSC) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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.

A number of other institutional investors have also bought and sold shares of NSC. RWA Wealth Partners LLC grew its stake in Norfolk Southern by 1.9% during the fourth quarter. RWA Wealth Partners LLC now owns 5,105 shares of the railroad operator’s stock worth $1,198,000 after purchasing 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 worth $83,957,000 after buying an additional 20,440 shares during the period. Allianz SE bought a new stake in shares of Norfolk Southern in the 4th quarter valued at $187,000. WealthTrak Capital Management LLC acquired a new position in shares of Norfolk Southern during the 4th quarter valued at $141,000. Finally, Allstate Corp bought a new position in Norfolk Southern during the fourth quarter worth $1,575,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.2 %

NSC stock opened at $236.46 on Wednesday. The stock 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. 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 stock’s fifty day simple moving average is $244.81 and its two-hundred day simple moving average is $248.86. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results 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 net margin of 21.63% and a return on equity of 20.04%. Analysts expect that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

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

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NSC shares. Susquehanna dropped their price objective on shares of Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Robert W. Baird upped their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Bank of America reduced their price objective on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Royal Bank of Canada upped their target price on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company reduced their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $274.84.

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.