Davidson Investment Advisors Sells 20,811 Shares of Norfolk Southern Co. (NYSE:NSC)

Davidson Investment Advisors lessened its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,068 shares of the railroad operator's stock after selling 20,811 shares during the period. Davidson Investment Advisors' holdings in Norfolk Southern were worth $12,924,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lake Street Advisors Group LLC boosted its holdings in shares of Norfolk Southern by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator's stock worth $563,000 after buying an additional 41 shares during the last quarter. Raab & Moskowitz Asset Management LLC boosted its stake in shares of Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator's stock worth $435,000 after acquiring an additional 41 shares during the last quarter. Archer Investment Corp grew its position in shares of Norfolk Southern by 2.3% during the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator's stock valued at $481,000 after acquiring an additional 43 shares during the period. Albert D Mason Inc. increased its stake in shares of Norfolk Southern by 0.7% in the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator's stock worth $1,615,000 after purchasing an additional 46 shares in the last quarter. Finally, Maia Wealth LLC raised its holdings in Norfolk Southern by 4.7% in the 3rd quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator's stock worth $264,000 after purchasing an additional 47 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere purchased 607 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sameh Fahmy acquired 350 shares of Norfolk Southern stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NSC. Loop Capital lowered Norfolk Southern from a "buy" rating to a "hold" rating and cut their price target for the company from $289.00 to $256.00 in a report on Monday, February 3rd. Royal Bank of Canada increased their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Benchmark reaffirmed a "buy" rating and set a $285.00 price target on shares of Norfolk Southern in a report on Thursday, January 30th. Robert W. Baird upped their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, Stephens raised their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. One investment 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. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of "Moderate Buy" and a consensus price target of $276.11.

Norfolk Southern Price Performance

Shares of NYSE:NSC traded down $1.57 on Friday, reaching $247.84. The company's stock had a trading volume of 1,493,699 shares, compared to its average volume of 1,217,662. The company has a 50-day simple moving average of $245.46 and a 200 day simple moving average of $250.66. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The company has a market cap of $56.12 billion, a P/E ratio of 21.44, a PEG ratio of 2.30 and a beta of 1.35.

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, topping 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%. As a group, equities research analysts anticipate that Norfolk Southern Co. will post 13.02 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. Norfolk Southern's dividend payout ratio is presently 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.