Greenleaf Trust Decreases Stake in Norfolk Southern Co. (NYSE:NSC)

Greenleaf Trust lessened its stake in Norfolk Southern Co. (NYSE:NSC) by 7.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,699 shares of the railroad operator’s stock after selling 640 shares during the quarter. Greenleaf Trust’s holdings in Norfolk Southern were worth $1,807,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Spire Wealth Management boosted its stake in shares of Norfolk Southern by 19.0% in the 4th quarter. Spire Wealth Management now owns 6,641 shares of the railroad operator’s stock valued at $1,559,000 after buying an additional 1,062 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Norfolk Southern by 4.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,529 shares of the railroad operator’s stock valued at $1,532,000 after buying an additional 261 shares during the period. Everett Harris & Co. CA raised its position in shares of Norfolk Southern by 4.8% during the 4th quarter. Everett Harris & Co. CA now owns 1,252 shares of the railroad operator’s stock worth $294,000 after acquiring an additional 57 shares in the last quarter. Ausbil Investment Management Ltd acquired a new stake in shares of Norfolk Southern during the 4th quarter worth about $4,703,000. Finally, Austin Private Wealth LLC acquired a new stake in shares of Norfolk Southern during the 4th quarter worth about $220,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.7 %

Norfolk Southern stock opened at $255.44 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a market cap of $57.79 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 2.35 and a beta of 1.34. The stock’s 50 day moving average price is $248.95 and its 200 day moving average price is $249.05.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.50% and a net margin of 21.63%. On average, sell-side analysts predict that Norfolk Southern Co. will post 13.17 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. Shareholders of record on Friday, February 7th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.11%. Norfolk Southern’s payout ratio is 46.71%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NSC. Susquehanna cut their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird raised their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore ISI cut their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Bank of America raised their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Benchmark reaffirmed a “buy” rating and set a $285.00 price target on shares of Norfolk Southern in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.74.

Insiders Place Their Bets

In other news, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by company 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.