Norfolk Southern Co. (NYSE:NSC) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its stake in Norfolk Southern Co. (NYSE:NSC) by 21.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,271 shares of the railroad operator’s stock after selling 341 shares during the quarter. Sterling Capital Management LLC’s holdings in Norfolk Southern were worth $298,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Heritage Trust Co acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at $1,125,000. Treasurer of the State of North Carolina boosted its holdings in Norfolk Southern by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 99,405 shares of the railroad operator’s stock valued at $23,330,000 after acquiring an additional 620 shares during the period. Legacy Financial Advisors Inc. grew its position in Norfolk Southern by 17.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,587 shares of the railroad operator’s stock valued at $372,000 after acquiring an additional 234 shares in the last quarter. Colonial Trust Advisors increased its stake in Norfolk Southern by 5.3% during the fourth quarter. Colonial Trust Advisors now owns 10,939 shares of the railroad operator’s stock worth $2,567,000 after purchasing an additional 549 shares during the period. Finally, Scotia Capital Inc. lifted its position in shares of Norfolk Southern by 2.4% during the fourth quarter. Scotia Capital Inc. now owns 18,471 shares of the railroad operator’s stock worth $4,336,000 after purchasing an additional 426 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC opened at $219.99 on Monday. The company has a market capitalization of $54.24 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a fifty-two week low of $201.63 and a fifty-two week high of $277.60. The firm has a 50-day simple moving average of $233.78 and a 200-day simple moving average of $245.74. 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 (NYSE:NSC) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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%. On average, equities research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.45%. Norfolk Southern’s payout ratio is currently 46.71%.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the topic of several recent research reports. Susquehanna cut their target price on shares of Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Norfolk Southern in a research note on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective on the stock. Stephens boosted their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Jefferies Financial Group decreased their price objective on Norfolk Southern from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group cut their target price on shares of Norfolk Southern from $305.00 to $284.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $268.79.

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.