Main Street Research LLC Sells 209 Shares of Norfolk Southern Co. (NYSE:NSC)

Main Street Research LLC trimmed its position in Norfolk Southern Co. (NYSE:NSC) by 11.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,587 shares of the railroad operator’s stock after selling 209 shares during the period. Main Street Research LLC’s holdings in Norfolk Southern were worth $372,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NSC. Principal Financial Group Inc. increased its holdings in Norfolk Southern by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock worth $63,417,000 after purchasing an additional 8,844 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth about $33,000. CWA Asset Management Group LLC acquired a new position in Norfolk Southern in the 3rd quarter valued at $310,000. United Bank boosted its holdings in Norfolk Southern by 2.4% in the 3rd quarter. United Bank now owns 8,875 shares of the railroad operator’s stock valued at $2,205,000 after purchasing an additional 204 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of Norfolk Southern by 3.3% during the 3rd quarter. Assetmark Inc. now owns 2,921 shares of the railroad operator’s stock worth $726,000 after purchasing an additional 94 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sameh Fahmy acquired 350 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

NSC has been the topic of several recent analyst reports. Susquehanna decreased their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Benchmark restated a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Wells Fargo & Company decreased their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and reduced their target price for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.95.

Norfolk Southern Stock Up 2.4 %

NYSE:NSC opened at $243.89 on Monday. 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 capitalization of $55.22 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The stock’s fifty day moving average is $246.51 and its two-hundred day moving average is $250.92.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.21%. Norfolk Southern’s dividend payout ratio (DPR) is presently 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.