Van ECK Associates Corp Sells 20,512 Shares of Norfolk Southern Co. (NYSE:NSC)

Van ECK Associates Corp decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 46.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,116 shares of the railroad operator's stock after selling 20,512 shares during the quarter. Van ECK Associates Corp's holdings in Norfolk Southern were worth $5,660,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Mizuho Securities USA LLC lifted its position in shares of Norfolk Southern by 18,831.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator's stock worth $819,553,000 after purchasing an additional 3,280,579 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator's stock worth $222,025,000 after purchasing an additional 889,925 shares during the last quarter. FMR LLC lifted its position in shares of Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator's stock worth $671,532,000 after purchasing an additional 881,415 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $207,830,000. Finally, Holocene Advisors LP acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $122,798,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Down 0.6 %

Shares of NSC stock traded down $1.57 on Friday, hitting $247.84. The stock had a trading volume of 1,493,699 shares, compared to its average volume of 1,217,659. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The stock has a market cap of $56.12 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 2.30 and a beta of 1.35. The business has a 50 day moving average of $245.43 and a 200 day moving average of $250.60. 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 (NYSE:NSC - Get Free Report) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping 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%. As a group, analysts expect that Norfolk Southern Co. will post 13.02 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.18%. Norfolk Southern's payout ratio is 46.71%.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now directly owns 10,350 shares of the company's stock, valued at $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilbert H. Lamphere acquired 607 shares of the company's stock in a transaction dated Friday, January 31st. The shares were bought at an average cost 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 in the company, valued at $646,271.82. The trade was a 32.29 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NSC has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Royal Bank of Canada boosted their target price on Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Benchmark reissued a "buy" rating and issued a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Barclays upped their price objective on Norfolk Southern from $290.00 to $305.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company cut their price target on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $276.11.

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.