Norfolk Southern Co. (NYSE:NSC) Position Cut by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,633 shares of the railroad operator’s stock after selling 837 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Norfolk Southern were worth $4,843,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NSC. Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price for the company. Royal Bank of Canada raised their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Susquehanna lowered their target price on Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday. Bank of America cut their price target on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Stephens boosted their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and an average target price of $274.84.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction on Friday, January 31st. The shares were purchased 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 directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Stock Down 0.1 %

Shares of Norfolk Southern stock opened at $235.51 on Friday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The company has a market cap of $53.33 billion, a P/E ratio of 20.37, a P/E/G ratio of 2.31 and a beta of 1.35. 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 50-day moving average price of $245.58 and a 200 day moving average price of $249.32.

Norfolk Southern (NYSE:NSC) last posted its quarterly 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%. As a group, analysts expect that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 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.