Commerce Bank Sells 1,231 Shares of Norfolk Southern Co. (NYSE:NSC)

Commerce Bank lessened its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,104 shares of the railroad operator's stock after selling 1,231 shares during the quarter. Commerce Bank's holdings in Norfolk Southern were worth $8,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of NSC. Financial Life Planners bought a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern during the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust bought a new position in shares of Norfolk Southern in the 4th quarter worth approximately $27,000. Vision Financial Markets LLC purchased a new position in shares of Norfolk Southern in the fourth quarter worth approximately $28,000. Finally, Atlantic Private Wealth LLC bought a new stake in Norfolk Southern during the fourth quarter valued at approximately $29,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 2.1 %

NSC stock traded up $4.75 during trading on Thursday, hitting $226.70. The company had a trading volume of 1,716,664 shares, compared to its average volume of 1,262,602. The firm has a market capitalization of $55.89 billion, a P/E ratio of 19.61, a PEG ratio of 2.31 and a beta of 1.30. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 52-week low of $201.63 and a 52-week high of $277.60. The company has a 50 day simple moving average of $231.67 and a 200-day simple moving average of $245.20.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. As a group, research analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.38%. Norfolk Southern's payout ratio is currently 46.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Evercore ISI cut their price objective on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a research report on Thursday. Wells Fargo & Company dropped their price target on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Royal Bank of Canada lowered their target price on shares of Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating on the stock in a report on Thursday. JPMorgan Chase & Co. raised 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. Finally, Susquehanna decreased their price target on shares of Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.10.

Insiders Place Their Bets

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the company's stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.06% 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.