Corient Private Wealth LLC Cuts Stock Position in Norfolk Southern Co. (NYSE:NSC)

Corient Private Wealth LLC cut its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 137,478 shares of the railroad operator's stock after selling 13,452 shares during the period. Corient Private Wealth LLC owned approximately 0.06% of Norfolk Southern worth $32,267,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Norfolk Southern by 48.4% during the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator's stock worth $671,532,000 after purchasing an additional 881,415 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Norfolk Southern in the third quarter valued at about $207,830,000. Holocene Advisors LP purchased a new position in Norfolk Southern during the third quarter worth about $122,798,000. Amundi lifted its position in Norfolk Southern by 56.4% in the fourth quarter. Amundi now owns 1,302,635 shares of the railroad operator's stock valued at $308,607,000 after purchasing an additional 469,558 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Norfolk Southern in the 4th quarter valued at approximately $105,225,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Trading Down 0.7 %

Shares of NSC traded down $1.70 on Friday, hitting $231.84. 1,248,284 shares of the stock traded hands, compared to its average volume of 1,162,047. The firm has a market capitalization of $52.50 billion, a P/E ratio of 20.06, a P/E/G ratio of 2.31 and a beta of 1.35. 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 1 year low of $206.71 and a 1 year high of $277.60. The stock's 50 day moving average is $246.07 and its two-hundred day moving average is $250.02.

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Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly 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 return on equity of 20.04% and a net margin of 21.63%. As a group, sell-side analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern's dividend payout ratio is currently 46.71%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Gilbert H. Lamphere purchased 607 shares of the company's stock in a transaction on Friday, January 31st. The stock was bought 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 directly owns 2,487 shares of the company's stock, valued at $646,271.82. The trade was a 32.29 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Loop Capital downgraded Norfolk Southern from a "buy" rating to a "hold" rating and reduced their target price for the company from $289.00 to $256.00 in a report on Monday, February 3rd. Stephens upped their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Benchmark reiterated a "buy" rating and issued a $285.00 price target on shares of Norfolk Southern in a report on Thursday, January 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $276.95.

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.