Norfolk Southern Co. (NYSE:NSC) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 58.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,747 shares of the railroad operator's stock after selling 9,615 shares during the period. Cinctive Capital Management LP's holdings in Norfolk Southern were worth $1,584,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bryce Point Capital LLC purchased a new position in Norfolk Southern during the fourth quarter valued at $505,000. RFG Bristol Wealth Advisors LLC acquired a new stake in Norfolk Southern in the 4th quarter worth about $486,000. Groupama Asset Managment increased its stake in Norfolk Southern by 49.1% during the 4th quarter. Groupama Asset Managment now owns 11,609 shares of the railroad operator's stock worth $2,711,000 after buying an additional 3,821 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Norfolk Southern during the fourth quarter valued at approximately $13,840,000. Finally, Geode Capital Management LLC lifted its position in shares of Norfolk Southern by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock valued at $1,098,472,000 after acquiring an additional 113,648 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Up 7.6 %

Norfolk Southern stock traded up $15.75 during trading on Wednesday, hitting $222.09. The company had a trading volume of 3,668,098 shares, compared to its average volume of 1,243,802. 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 company's 50 day simple moving average is $238.59 and its 200-day simple moving average is $247.11. Norfolk Southern Co. has a 1-year low of $201.63 and a 1-year high of $277.60. The stock has a market cap of $54.76 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30.

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Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data 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 20.04% and a net margin of 21.63%. As a group, analysts expect that Norfolk Southern Co. will post 13 EPS 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 given 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 2.43%. Norfolk Southern's dividend payout ratio is presently 46.71%.

Insider Activity

In related news, Director Gilbert H. Lamphere bought 607 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on NSC shares. Benchmark reissued a "buy" rating and issued a $285.00 price objective on shares of Norfolk Southern in a research note on Thursday, January 30th. Citigroup reduced their target price on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They set a "buy" rating and a $293.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company lowered their target price on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $268.68.

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.