Norfolk Southern Co. (NYSE:NSC) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury decreased its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,030 shares of the railroad operator's stock after selling 4,031 shares during the quarter. State of Tennessee Department of Treasury's holdings in Norfolk Southern were worth $22,773,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NSC. Financial Life Planners bought a new stake in Norfolk Southern during the fourth quarter valued at $27,000. Keystone Financial Group Inc. acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust bought a new stake in shares of Norfolk Southern during the 4th quarter valued at about $27,000. Vision Financial Markets LLC acquired a new stake in Norfolk Southern during the fourth quarter worth about $28,000. Finally, Atlantic Private Wealth LLC bought a new position in Norfolk Southern in the fourth quarter worth about $29,000. 75.10% of the stock is currently owned by institutional investors.

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere purchased 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 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $220.15 on Wednesday. Norfolk Southern Co. has a 52 week low of $201.63 and a 52 week high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The stock has a market cap of $54.28 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. The company's 50-day moving average price is $232.34 and its two-hundred day moving average price is $245.36.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.45%. Norfolk Southern's payout ratio is 46.71%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NSC. Citigroup lowered their target price on Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Jefferies Financial Group dropped their target price on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company reduced their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Susquehanna dropped their price objective on shares of Norfolk Southern from $265.00 to $260.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Finally, Barclays reduced their target price on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $268.79.

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.

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