Massachusetts Financial Services Co. MA Sells 1,858 Shares of Norfolk Southern Co. (NYSE:NSC)

Massachusetts Financial Services Co. MA cut its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 602,161 shares of the railroad operator's stock after selling 1,858 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.27% of Norfolk Southern worth $141,327,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock valued at $63,417,000 after buying an additional 8,844 shares during the period. Geode Capital Management LLC grew its holdings in Norfolk Southern by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock valued at $1,098,472,000 after purchasing an additional 113,648 shares during the period. Caprock Group LLC purchased a new position in Norfolk Southern during the fourth quarter worth approximately $1,796,000. Grandview Asset Management LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $918,000. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in shares of Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock worth $1,333,000 after buying an additional 128 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NSC shares. Wells Fargo & Company lowered their price target on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Susquehanna decreased their target price on Norfolk Southern from $265.00 to $260.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Loop Capital lowered shares of 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. JPMorgan Chase & Co. boosted their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Bank of America cut their target price 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of "Moderate Buy" and a consensus price target of $268.68.

Norfolk Southern Price Performance

NSC stock traded down $8.98 on Thursday, hitting $213.04. 442,245 shares of the company's stock traded hands, compared to its average volume of 1,240,703. The stock has a market cap of $52.53 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a 1-year low of $201.63 and a 1-year high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The stock has a fifty day moving average of $238.59 and a 200-day moving average of $247.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating analysts' consensus estimates 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, analysts forecast that Norfolk Southern Co. will post 13 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. Stockholders of record on Friday, February 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date 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.