Core Alternative Capital Reduces Holdings in Norfolk Southern Co. (NYSE:NSC)

Core Alternative Capital cut its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,729 shares of the railroad operator's stock after selling 2,248 shares during the quarter. Core Alternative Capital's holdings in Norfolk Southern were worth $6,273,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Highline Wealth Partners LLC bought a new position in shares of Norfolk Southern during the third quarter valued at $25,000. Financial Life Planners bought a new position in Norfolk Southern during the 4th quarter valued at about $27,000. Keystone Financial Group Inc. purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at about $27,000. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $30,000. Finally, Coastline Trust Co bought a new stake in shares of Norfolk Southern in the third quarter worth approximately $32,000. 75.10% of the stock is currently owned by institutional investors.

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy purchased 350 shares of the business's stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the acquisition, the director now directly owns 10,350 shares of the company's stock, valued at $2,580,979.50. This represents a 3.50 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction 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 purchase, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Price Performance

NSC stock traded down $1.32 during trading on Friday, reaching $255.90. The company's stock had a trading volume of 908,786 shares, compared to its average volume of 1,177,383. 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's fifty day moving average is $245.44 and its 200-day moving average is $250.38. The company has a market capitalization of $57.89 billion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its 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 return on equity of 20.04% and a net margin of 21.63%. On average, research analysts expect that Norfolk Southern Co. will post 13.02 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.11%. Norfolk Southern's dividend payout ratio is 46.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Evercore ISI dropped their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Bank of America lifted their price objective on Norfolk Southern from $276.00 to $291.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Wells Fargo & Company lowered their target price on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. boosted their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $276.11.

About Norfolk Southern

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.