Stock Yards Bank & Trust Co. Cuts Holdings in Norfolk Southern Co. (NYSE:NSC)

Stock Yards Bank & Trust Co. trimmed its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,535 shares of the railroad operator’s stock after selling 193 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Norfolk Southern were worth $3,646,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new stake in Norfolk Southern during the 3rd quarter valued at $25,000. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth about $30,000. Coastline Trust Co purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth about $32,000. Capital Performance Advisors LLP purchased a new stake in Norfolk Southern during the 3rd quarter valued at about $33,000. Finally, Versant Capital Management Inc grew its position in Norfolk Southern by 54.4% during the 4th quarter. Versant Capital Management Inc now owns 193 shares of the railroad operator’s stock valued at $45,000 after purchasing an additional 68 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $255.44 on Monday. The business’s 50 day moving average price is $248.95 and its 200 day moving average price is $249.05. The firm has a market cap of $57.79 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.35 and a beta of 1.35. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect that Norfolk Southern Co. will post 13.07 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern’s payout ratio is presently 46.71%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Loop Capital increased their price objective on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. UBS Group increased their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus increased their price objective on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. Citigroup upped their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Bank of America upped their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One investment 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $277.74.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction dated 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 purchase, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This represents a 3.50 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Company 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.