Norfolk Southern Co. (NYSE:NSC) Holdings Reduced by Vestcor Inc

Vestcor Inc cut its stake in Norfolk Southern Co. (NYSE:NSC) by 63.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,439 shares of the railroad operator’s stock after selling 7,605 shares during the period. Vestcor Inc’s holdings in Norfolk Southern were worth $1,042,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Essential Planning LLC. bought a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $3,085,000. Hopwood Financial Services Inc. bought a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $158,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Norfolk Southern by 12.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 73,589 shares of the railroad operator’s stock valued at $17,271,000 after acquiring an additional 8,340 shares in the last quarter. Saturna Capital Corp boosted its holdings in shares of Norfolk Southern by 2.0% in the fourth quarter. Saturna Capital Corp now owns 4,175 shares of the railroad operator’s stock valued at $980,000 after acquiring an additional 80 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Norfolk Southern by 42.6% in the fourth quarter. HighTower Advisors LLC now owns 286,937 shares of the railroad operator’s stock valued at $67,344,000 after acquiring an additional 85,766 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

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 dated Friday, January 31st. The shares were bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Stock Up 2.2 %

NSC stock opened at $232.75 on Friday. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The company has a market cap of $52.70 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.31 and a beta of 1.35. The company has a 50 day moving average of $246.30 and a two-hundred day moving average of $250.52.

Norfolk Southern (NYSE:NSC) last released its 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%. On average, equities analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.32%. Norfolk Southern’s dividend payout ratio (DPR) is 46.71%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. 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 research note on Thursday, January 30th. 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 note on Thursday, January 30th. Wells Fargo & Company cut their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Susquehanna cut their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $276.95.

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.