Norfolk Southern Co. (NYSE:NSC) Stake Reduced by National Bank of Canada FI

National Bank of Canada FI decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 26.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,238 shares of the railroad operator's stock after selling 49,203 shares during the quarter. National Bank of Canada FI owned about 0.06% of Norfolk Southern worth $32,686,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NSC. Principal Financial Group Inc. boosted its holdings in Norfolk Southern by 3.6% during the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock worth $63,417,000 after buying an additional 8,844 shares in the last quarter. Caprock Group LLC purchased a new position in Norfolk Southern during the fourth quarter worth approximately $1,796,000. Grandview Asset Management LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $918,000. Dorsey & Whitney Trust CO LLC raised its stake in shares of Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock worth $1,333,000 after buying an additional 128 shares during the period. Finally, Clarendon Private LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at $309,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Norfolk Southern

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

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Wall Street Analyst Weigh In

Several brokerages have issued reports on NSC. Susquehanna lowered their target price on shares of Norfolk Southern from $265.00 to $260.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Robert W. Baird lifted their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Stephens raised their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. UBS Group lowered their price target on Norfolk Southern from $305.00 to $284.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada boosted their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an "outperform" 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $272.74.

Norfolk Southern Price Performance

Norfolk Southern stock traded down $3.56 during mid-day trading on Monday, hitting $207.38. 705,703 shares of the company were exchanged, compared to its average volume of 1,241,488. The company has a market capitalization of $51.13 billion, a P/E ratio of 17.84, a PEG ratio of 2.31 and a beta of 1.30. 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 12-month low of $201.63 and a 12-month high of $277.60. The business's 50 day simple moving average is $242.94 and its two-hundred day simple moving average is $248.35.

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 analysts' consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern's dividend payout ratio is currently 46.71%.

Norfolk Southern Company 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.