Norfolk Southern Co. (NYSE:NSC) Shares Sold by Westpac Banking Corp

Westpac Banking Corp cut its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,476 shares of the railroad operator's stock after selling 1,167 shares during the period. Westpac Banking Corp's holdings in Norfolk Southern were worth $1,755,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Financial Life Planners acquired a new stake in Norfolk Southern during the 4th quarter worth $27,000. Keystone Financial Group Inc. acquired a new stake in shares of Norfolk Southern during the fourth quarter worth about $27,000. Bank of Jackson Hole Trust purchased a new position in shares of Norfolk Southern during the fourth quarter worth about $27,000. Vision Financial Markets LLC acquired a new position in Norfolk Southern in the 4th quarter valued at about $28,000. Finally, Atlantic Private Wealth LLC purchased a new stake in Norfolk Southern during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC traded up $15.75 during midday trading on Wednesday, hitting $222.09. 3,668,098 shares of the stock were exchanged, compared to its average volume of 1,243,802. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month 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 company has a 50 day moving average price of $238.59 and a 200-day moving average price of $247.11. The stock has a market cap of $54.76 billion, a P/E ratio of 19.21, a PEG ratio of 2.31 and a beta of 1.30.

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

Norfolk Southern Announces Dividend

The business also recently declared 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 2.43%. The ex-dividend date was Friday, February 7th. Norfolk Southern's payout ratio is 46.71%.

Analysts Set New Price Targets

NSC has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Benchmark restated a "buy" rating and set a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday, January 30th. Robert W. Baird lifted their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Jefferies Financial Group cut their price target on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Susquehanna reduced their price objective on shares of Norfolk Southern from $265.00 to $260.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. One 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. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of "Moderate Buy" and an average target price of $268.68.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the business's 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 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 legal filing with the SEC, which is available through this link. Insiders own 0.19% of the company's stock.

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.