Massachusetts Financial Services Co. MA Lowers Stock Position in Norfolk Southern Co. (NYSE:NSC)

Massachusetts Financial Services Co. MA decreased its position in Norfolk Southern Co. (NYSE:NSC) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 602,161 shares of the railroad operator’s stock after selling 1,858 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Norfolk Southern were worth $141,327,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Raab & Moskowitz Asset Management LLC lifted its position in shares of Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after buying an additional 41 shares in the last quarter. Albert D Mason Inc. lifted its holdings in Norfolk Southern by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock valued at $1,615,000 after purchasing an additional 46 shares in the last quarter. Signal Advisors Wealth LLC grew its position in shares of Norfolk Southern by 5.4% in the fourth quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator’s stock valued at $225,000 after purchasing an additional 49 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Norfolk Southern by 2.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,507 shares of the railroad operator’s stock worth $588,000 after purchasing an additional 49 shares in the last quarter. Finally, Leavell Investment Management Inc. raised its position in shares of Norfolk Southern by 0.9% during the 4th quarter. Leavell Investment Management Inc. now owns 5,816 shares of the railroad operator’s stock worth $1,365,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

NSC stock opened at $210.78 on Friday. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. 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 $47.73 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The business has a fifty day moving average of $242.94 and a two-hundred day moving average of $248.34.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data 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 return on equity of 20.04% and a net margin of 21.63%. As a group, research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America lowered their price objective on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Wells Fargo & Company dropped their price target on Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Robert W. Baird raised their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” 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 set a “buy” rating and a $293.00 target price on the stock. Finally, Barclays reduced their target price on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and an average price target of $272.74.

Norfolk Southern Company Profile

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.