Norfolk Southern Corporation $NSC Holdings Reduced by South Dakota Investment Council

South Dakota Investment Council reduced its holdings in Norfolk Southern Corporation (NYSE:NSC) by 44.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,683 shares of the railroad operator’s stock after selling 19,009 shares during the quarter. South Dakota Investment Council’s holdings in Norfolk Southern were worth $7,115,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. ORG Partners LLC raised its stake in shares of Norfolk Southern by 75.0% in the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares in the last quarter. Westside Investment Management Inc. raised its holdings in shares of Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after acquiring an additional 58 shares during the period. BNP Paribas acquired a new stake in Norfolk Southern during the 2nd quarter valued at $26,000. True Wealth Design LLC lifted its stake in Norfolk Southern by 423.8% in the 2nd quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Finally, MMA Asset Management LLC purchased a new stake in shares of Norfolk Southern in the third quarter worth approximately $28,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of research reports. Barclays reduced their price objective on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Susquehanna upped their price objective on shares of Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a report on Friday, January 30th. Morgan Stanley upgraded shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Finally, Robert W. Baird lowered their price objective on Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $304.47.

Insider Buying and Selling

In related news, Director William Jr. Clyburn acquired 204 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the acquisition, the director owned 405 shares of the company’s stock, valued at $119,389.95. This trade represents a 101.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

Norfolk Southern Price Performance

NSC opened at $317.33 on Wednesday. The company’s 50 day simple moving average is $298.98 and its 200-day simple moving average is $291.07. The stock has a market capitalization of $71.26 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 5.73 and a beta of 1.31. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $319.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.04 earnings per share. Sell-side analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, February 6th. Norfolk Southern’s payout ratio is currently 42.35%.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.