Norfolk Southern Co. (NYSE:NSC) Shares Sold by Pensionfund Sabic

Pensionfund Sabic cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 29.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,700 shares of the railroad operator’s stock after selling 2,000 shares during the quarter. Pensionfund Sabic’s holdings in Norfolk Southern were worth $1,198,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Provence Wealth Management Group purchased a new stake in Norfolk Southern during the 3rd quarter worth $28,000. Exchange Traded Concepts LLC boosted its position in Norfolk Southern by 662.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after purchasing an additional 106 shares during the period. Operose Advisors LLC purchased a new stake in Norfolk Southern during the 3rd quarter worth $32,000. Orion Capital Management LLC purchased a new stake in Norfolk Southern during the 3rd quarter worth $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Norfolk Southern in the 4th quarter worth $32,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

NYSE NSC opened at $221.94 on Thursday. The company has a 50-day moving average price of $230.82 and a two-hundred day moving average price of $239.31. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The stock has a market cap of $50.14 billion, a price-to-earnings ratio of 35.74, a price-to-earnings-growth ratio of 2.09 and a beta of 1.31. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.09). The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business earned $3.32 earnings per share. Analysts forecast that Norfolk Southern Co. will post 11.88 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Analyst Ratings Changes

A number of brokerages have commented on NSC. Jefferies Financial Group began coverage on shares of Norfolk Southern in a report on Monday, April 8th. They issued a “buy” rating and a $300.00 price objective on the stock. Loop Capital upped their target price on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Stifel Nicolaus upped their target price on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research note on Friday, April 12th. UBS Group cut their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $264.56.

Insider Activity

In other Norfolk Southern news, Director Claude Mongeau bought 5,650 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Norfolk Southern news, Director Claude Mongeau bought 5,650 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Claude E. Elkins sold 8,329 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.