Norfolk Southern Co. (NYSE:NSC) Shares Sold by Haverford Trust Co

Haverford Trust Co cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 3.9% during the fourth quarter, Holdings Channel reports. The firm owned 14,285 shares of the railroad operator’s stock after selling 581 shares during the quarter. Haverford Trust Co’s holdings in Norfolk Southern were worth $3,353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NSC. Principal Financial Group Inc. grew its holdings in shares of Norfolk Southern by 3.6% during the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after buying an additional 8,844 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter worth $1,796,000. Grandview Asset Management LLC purchased a new position in Norfolk Southern in the fourth quarter valued at about $918,000. Dorsey & Whitney Trust CO LLC raised its stake in shares of Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator’s stock worth $1,333,000 after purchasing an additional 128 shares in the last quarter. Finally, Clarendon Private LLC bought a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $309,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 1.9 %

Shares of Norfolk Southern stock opened at $236.11 on Tuesday. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The business has a fifty day simple moving average of $246.01 and a 200 day simple moving average of $249.63. 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 cap of $53.46 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

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

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.29%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is presently 46.71%.

Insiders Place Their Bets

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were acquired at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a research note on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Stephens raised their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and cut their price target for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.63.

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.