PNC Financial Services Group Inc. Decreases Stock Position in Norfolk Southern Co. (NYSE:NSC)

PNC Financial Services Group Inc. cut its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 386,833 shares of the railroad operator’s stock after selling 6,435 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Norfolk Southern were worth $90,790,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Financial Life Planners bought a new stake in Norfolk Southern in the fourth quarter worth about $27,000. Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new stake in Norfolk Southern during the fourth quarter worth $27,000. Vision Financial Markets LLC bought a new stake in Norfolk Southern during the fourth quarter valued at about $28,000. Finally, Morse Asset Management Inc bought a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $30,000. 75.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NSC has been the topic of several recent analyst reports. Robert W. Baird upped their target price on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Wells Fargo & Company dropped their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Citigroup upped their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Barclays raised their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Stephens upped their price objective on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $276.95.

Norfolk Southern Stock Up 2.4 %

Shares of NYSE:NSC opened at $243.89 on Friday. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company’s fifty day moving average is $246.51 and its two-hundred day moving average is $250.85. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. 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 (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s payout ratio is currently 46.71%.

Insider Activity

In related news, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

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.