Norfolk Southern Co. (NYSE:NSC) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 2.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,344 shares of the railroad operator’s stock after selling 1,079 shares during the quarter. Amalgamated Bank’s holdings in Norfolk Southern were worth $10,173,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in Norfolk Southern by 3.6% during the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock worth $63,417,000 after buying an additional 8,844 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Norfolk Southern by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after purchasing an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Norfolk Southern by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after purchasing an additional 3,621 shares in the last quarter. Caprock Group LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at $1,796,000. Finally, Grandview Asset Management LLC purchased a new position in Norfolk Southern in the fourth quarter valued at about $918,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $244.92 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The firm’s 50-day simple moving average is $245.52 and its 200-day simple moving average is $250.83. The firm has a market cap of $55.46 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company 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 2.20%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NSC shares. Wells Fargo & Company decreased their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Robert W. Baird upped their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Stephens lifted their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price target for the company from $289.00 to $256.00 in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $276.11.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy acquired 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, for a total transaction of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction on Friday, January 31st. The stock was acquired at an average cost 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 $646,271.82. The trade was 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 currently owned by corporate insiders.

Norfolk Southern 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.