Cohen & Steers Inc. Reduces Stake in Norfolk Southern Co. (NYSE:NSC)

Cohen & Steers Inc. reduced its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 55.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 204,941 shares of the railroad operator's stock after selling 257,068 shares during the quarter. Cohen & Steers Inc. owned about 0.09% of Norfolk Southern worth $48,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc bought a new position in Norfolk Southern during the 3rd quarter worth approximately $30,000. Wellington Management Group LLP boosted its stake in shares of Norfolk Southern by 27.9% during the 3rd quarter. Wellington Management Group LLP now owns 23,062 shares of the railroad operator's stock worth $5,731,000 after buying an additional 5,032 shares during the last quarter. Wealthquest Corp bought a new stake in Norfolk Southern during the third quarter worth $216,000. Anchor Investment Management LLC raised its holdings in shares of Norfolk Southern by 1.2% in the 3rd quarter. Anchor Investment Management LLC now owns 14,265 shares of the railroad operator's stock valued at $3,545,000 after purchasing an additional 170 shares during the period. Finally, World Investment Advisors LLC lifted its stake in Norfolk Southern by 10.7% in the 3rd quarter. World Investment Advisors LLC now owns 11,226 shares of the railroad operator's stock valued at $2,790,000 after purchasing an additional 1,089 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Barclays reduced their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Robert W. Baird increased their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Bank of America decreased their price target on shares of Norfolk Southern from $292.00 to $272.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. Finally, Jefferies Financial Group reduced their price objective on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $268.79.

Insider Activity

In related news, Director Gilbert H. Lamphere purchased 607 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company's stock.

Norfolk Southern Trading Up 2.8 %

NYSE:NSC traded up $5.96 during trading hours on Friday, hitting $219.99. The company had a trading volume of 1,362,718 shares, compared to its average volume of 1,252,158. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a 52 week low of $201.63 and a 52 week high of $277.60. The company has a market capitalization of $54.24 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. The stock has a 50-day moving average price of $233.78 and a 200 day moving average price of $245.74.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 research analysts predict that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders 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 2.45%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern's dividend payout ratio is currently 46.71%.

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.