New York State Teachers Retirement System Sells 8,945 Shares of Norfolk Southern Co. (NYSE:NSC)

New York State Teachers Retirement System decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 5.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 171,174 shares of the railroad operator’s stock after selling 8,945 shares during the quarter. New York State Teachers Retirement System’s holdings in Norfolk Southern were worth $40,175,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NSC. Highline Wealth Partners LLC purchased a new position in Norfolk Southern during the third quarter valued at $25,000. Financial Life Planners purchased a new position in Norfolk Southern during the fourth quarter valued at $27,000. Keystone Financial Group Inc. purchased a new position in Norfolk Southern during the fourth quarter valued at $27,000. Morse Asset Management Inc purchased a new position in Norfolk Southern during the third quarter valued at $30,000. Finally, Coastline Trust Co purchased a new position in Norfolk Southern during the third quarter valued at $32,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC opened at $255.90 on Friday. 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 business has a 50-day simple moving average of $245.44 and a two-hundred day simple moving average of $250.38. The stock has a market cap of $57.89 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.32 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.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS 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%. On average, analysts expect that Norfolk Southern Co. will post 13.02 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Insiders Place Their Bets

In other Norfolk Southern 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, for a total transaction of $157,735.02. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Evercore ISI lowered their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Barclays boosted their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Bank of America boosted their price target on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada boosted their price target on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Norfolk Southern 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.