Teachers Retirement System of The State of Kentucky Lowers Holdings in Norfolk Southern Co. (NYSE:NSC)

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,107 shares of the railroad operator’s stock after selling 1,088 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Norfolk Southern were worth $4,251,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. Highline Wealth Partners LLC bought a new stake in Norfolk Southern in the 3rd quarter valued at $25,000. 1620 Investment Advisors Inc. bought a new stake in Norfolk Southern in the second quarter worth $27,000. Morse Asset Management Inc purchased a new stake in Norfolk Southern during the third quarter valued at $30,000. Financial Connections Group Inc. bought a new position in Norfolk Southern during the second quarter valued at $31,000. Finally, HWG Holdings LP bought a new stake in shares of Norfolk Southern in the 2nd quarter worth about $31,000. Institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In other news, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now owns 10,350 shares in the company, valued at $2,580,979.50. This represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

Norfolk Southern Trading Down 0.8 %

Shares of NYSE NSC opened at $246.22 on Friday. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The business has a fifty day simple moving average of $259.16 and a two-hundred day simple moving average of $243.50. The firm has a market cap of $55.70 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.65 earnings per share. Analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s payout ratio is 50.70%.

Analysts Set New Price Targets

NSC has been the subject of several recent research reports. Loop Capital lifted their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays lifted their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. UBS Group increased their price target on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Benchmark lifted their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen increased their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average target price of $275.68.

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.