Norfolk Southern Co. (NYSE:NSC) Shares Sold by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. lessened its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,010 shares of the railroad operator's stock after selling 1,467 shares during the period. Lowe Brockenbrough & Co. Inc.'s holdings in Norfolk Southern were worth $13,850,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Financial Life Planners acquired a new stake in shares of Norfolk Southern during the 4th quarter worth about $27,000. Keystone Financial Group Inc. purchased a new position in Norfolk Southern in the fourth quarter valued at approximately $27,000. Bank of Jackson Hole Trust acquired a new stake in Norfolk Southern during the fourth quarter worth approximately $27,000. Vision Financial Markets LLC acquired a new stake in Norfolk Southern during the fourth quarter worth approximately $28,000. Finally, Atlantic Private Wealth LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $29,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NSC has been the topic of a number of recent analyst reports. Loop Capital downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating and dropped their target price for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Stephens lifted their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Benchmark reissued a "buy" rating and issued a $285.00 target price on shares of Norfolk Southern in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their price target on Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $275.63.

Remove Ads

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the company's stock in a transaction that occurred 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 completion of the acquisition, the director now directly owns 2,487 shares of the company's stock, valued at approximately $646,271.82. The trade was a 32.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company's stock.

Norfolk Southern Stock Performance

NYSE:NSC traded down $1.70 during midday trading on Tuesday, reaching $233.85. The stock had a trading volume of 939,859 shares, compared to its average volume of 1,161,692. 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 stock has a market cap of $52.95 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.31 and a beta of 1.35. The firm has a fifty day simple moving average of $246.01 and a two-hundred day simple moving average of $249.63. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60.

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

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, February 7th. Norfolk Southern's payout ratio is 46.71%.

About Norfolk Southern

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.