Flputnam Investment Management Co. Has $2.88 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

Flputnam Investment Management Co. cut its holdings in Norfolk Southern Co. (NYSE:NSC) by 80.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,277 shares of the railroad operator’s stock after selling 50,666 shares during the period. Flputnam Investment Management Co.’s holdings in Norfolk Southern were worth $2,881,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NSC. Creative Financial Designs Inc. ADV lifted its position in Norfolk Southern by 2.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,518 shares of the railroad operator’s stock worth $626,000 after buying an additional 50 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in shares of Norfolk Southern in the third quarter valued at about $203,000. Farther Finance Advisors LLC raised its holdings in Norfolk Southern by 31.9% during the third quarter. Farther Finance Advisors LLC now owns 2,945 shares of the railroad operator’s stock worth $732,000 after acquiring an additional 713 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in Norfolk Southern by 5.4% during the third quarter. Chicago Partners Investment Group LLC now owns 3,600 shares of the railroad operator’s stock valued at $925,000 after purchasing an additional 184 shares during the last quarter. Finally, Optas LLC bought a new position in Norfolk Southern in the third quarter valued at approximately $432,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 1.6 %

NSC stock opened at $245.96 on Friday. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The business has a 50-day simple moving average of $246.07 and a 200 day simple moving average of $250.85. 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 company has a market cap of $55.69 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Sell-side analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NSC shares. Royal Bank of Canada upped their price objective on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Barclays boosted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company lowered their price target on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Stephens lifted 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.11.

Insider Activity

In related news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, with a total value 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 position. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

About Norfolk Southern

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.