King Luther Capital Management Corp Sells 1,393 Shares of Norfolk Southern Co. (NYSE:NSC)

King Luther Capital Management Corp cut its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 17.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,396 shares of the railroad operator's stock after selling 1,393 shares during the period. King Luther Capital Management Corp's holdings in Norfolk Southern were worth $1,501,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp increased its stake in shares of Norfolk Southern by 2.1% in the third quarter. State Street Corp now owns 9,330,849 shares of the railroad operator's stock worth $2,318,716,000 after purchasing an additional 196,249 shares during the period. Geode Capital Management LLC increased its stake in Norfolk Southern by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator's stock valued at $1,133,828,000 after acquiring an additional 62,186 shares during the period. EdgePoint Investment Group Inc. increased its stake in Norfolk Southern by 2.7% during the third quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator's stock valued at $967,340,000 after acquiring an additional 103,281 shares during the period. Mizuho Securities USA LLC increased its stake in Norfolk Southern by 18,831.2% during the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator's stock valued at $819,553,000 after acquiring an additional 3,280,579 shares during the period. Finally, FMR LLC increased its stake in Norfolk Southern by 48.4% during the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator's stock valued at $671,532,000 after acquiring an additional 881,415 shares during the period. 75.10% of the stock is currently owned by institutional investors.

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Norfolk Southern Price Performance

Shares of NSC traded up $5.06 on Friday, hitting $232.75. The company's stock had a trading volume of 1,080,968 shares, compared to its average volume of 1,161,849. The company has a market capitalization of $52.70 billion, a PE ratio of 20.13, a PEG ratio of 2.31 and a beta of 1.35. 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 fifty-two week low of $206.71 and a fifty-two week high of $277.60. The company has a 50 day moving average price of $246.30 and a 200 day moving average price of $250.52.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) 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%. On average, research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, February 7th. Norfolk Southern's dividend payout ratio is 46.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NSC shares. Susquehanna lowered their price target on Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. 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. Stephens boosted their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Benchmark reaffirmed a "buy" rating and set a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Finally, Loop Capital downgraded Norfolk Southern from a "buy" rating to a "hold" rating and decreased their price objective for the company from $289.00 to $256.00 in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Norfolk Southern has a consensus rating of "Moderate Buy" and a consensus target price of $276.95.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the acquisition, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.