Vestcor Inc Sells 7,605 Shares of Norfolk Southern Co. (NYSE:NSC)

Vestcor Inc cut its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 63.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,439 shares of the railroad operator's stock after selling 7,605 shares during the quarter. Vestcor Inc's holdings in Norfolk Southern were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Financial Life Planners purchased a new stake in Norfolk Southern during the 4th quarter valued at about $27,000. Keystone Financial Group Inc. bought a new position in Norfolk Southern during the 4th quarter valued at approximately $27,000. Bank of Jackson Hole Trust bought a new position in Norfolk Southern during the 4th quarter valued at approximately $27,000. Morse Asset Management Inc bought a new position in Norfolk Southern during the 3rd quarter valued at approximately $30,000. Finally, Vision Financial Markets LLC bought a new position in Norfolk Southern during the 4th quarter valued at approximately $28,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a research report on Friday, March 7th. They set a "buy" rating and a $293.00 price target for the company. Benchmark reaffirmed a "buy" rating and set a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Stephens upped their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Wells Fargo & Company decreased their target price on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Finally, Robert W. Baird increased their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $276.95.

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Norfolk Southern Stock Up 0.1 %

NSC stock traded up $0.16 on Wednesday, reaching $234.71. 735,233 shares of the company traded hands, compared to its average volume of 1,159,895. The firm has a fifty day simple moving average of $246.19 and a 200-day simple moving average of $250.25. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The company has a market cap of $53.15 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 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%. Research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.30%. Norfolk Southern's dividend payout ratio (DPR) is currently 46.71%.

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now owns 2,487 shares of the company's stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company's stock.

Norfolk Southern 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.