Berkshire Asset Management LLC PA Sells 1,271 Shares of Norfolk Southern Co. (NYSE:NSC)

Berkshire Asset Management LLC PA lessened its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,748 shares of the railroad operator's stock after selling 1,271 shares during the period. Norfolk Southern comprises 1.9% of Berkshire Asset Management LLC PA's portfolio, making the stock its 16th largest holding. Berkshire Asset Management LLC PA owned approximately 0.07% of Norfolk Southern worth $39,664,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Raab & Moskowitz Asset Management LLC increased its holdings in shares of Norfolk Southern by 2.4% in 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 period. Archer Investment Corp increased its holdings in shares of Norfolk Southern by 2.3% in the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator's stock worth $481,000 after acquiring an additional 43 shares during the period. Albert D Mason Inc. increased its holdings 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 acquiring an additional 46 shares during the period. Maia Wealth LLC increased its holdings in shares of 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 acquiring an additional 47 shares during the period. Finally, Signal Advisors Wealth LLC increased its holdings in shares of Norfolk Southern by 5.4% in the 4th quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator's stock worth $225,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 75.10% of the company's stock.

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Analysts Set New Price Targets

A number of research firms recently weighed in on NSC. Loop Capital cut shares of Norfolk Southern from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Benchmark reiterated a "buy" rating and issued a $285.00 target price on shares of Norfolk Southern in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Barclays increased their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Finally, Susquehanna decreased their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $276.95.

Norfolk Southern Trading Up 2.4 %

Shares of NSC traded up $5.69 during midday trading on Friday, hitting $243.89. The stock had a trading volume of 1,221,460 shares, compared to its average volume of 1,158,598. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The business has a 50-day simple moving average of $246.51 and a two-hundred day simple moving average of $250.85. The firm has a market cap of $55.22 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, equities analysts forecast that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, February 7th. Norfolk Southern's payout ratio is 46.71%.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 350 shares of Norfolk Southern stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares of the company's stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares of the company's stock, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.