Cerity Partners LLC lessened its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 181,425 shares of the railroad operator's stock after selling 21,893 shares during the period. Cerity Partners LLC owned 0.08% of Norfolk Southern worth $43,259,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Norfolk Southern by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,089,164 shares of the railroad operator's stock valued at $4,714,927,000 after acquiring an additional 139,485 shares during the period. Geode Capital Management LLC boosted its stake in Norfolk Southern by 2.5% during the 4th 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. Boston Partners grew its position in Norfolk Southern by 16.9% in the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator's stock worth $945,385,000 after purchasing an additional 580,293 shares during the last quarter. FMR LLC increased its stake in shares of Norfolk Southern by 13.8% in the fourth quarter. FMR LLC now owns 3,073,933 shares of the railroad operator's stock valued at $721,452,000 after purchasing an additional 371,589 shares during the period. Finally, Norges Bank bought a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $547,575,000. Institutional investors and hedge funds own 75.10% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on NSC. Jefferies Financial Group decreased their price objective on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday. JPMorgan Chase & Co. raised their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Bank of America reduced their price objective on shares of Norfolk Southern from $292.00 to $272.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Loop Capital lowered shares of Norfolk Southern from a "buy" rating to a "hold" rating and reduced their price target for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. One 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $268.68.
View Our Latest Analysis on NSC
Insider Transactions at Norfolk Southern
In other news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.
Norfolk Southern Trading Up 1.1 %
Shares of NSC stock traded up $2.48 during trading hours on Friday, reaching $217.94. 1,401,075 shares of the stock traded hands, compared to its average volume of 1,248,782. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $53.73 billion, a PE ratio of 18.85, a PEG 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 business has a fifty day moving average price of $237.20 and a 200 day moving average price of $246.74.
Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, equities research analysts forecast that Norfolk Southern Co. will post 13 EPS for the current year.
Norfolk Southern Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued 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 dividend yield of 2.48%. Norfolk Southern's dividend payout ratio is 46.71%.
About Norfolk Southern
(
Free Report)
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.
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