Norfolk Southern Co. (NYSE:NSC) Shares Sold by Patten Group Inc.

Patten Group Inc. lessened its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,824 shares of the railroad operator’s stock after selling 104 shares during the quarter. Patten Group Inc.’s holdings in Norfolk Southern were worth $1,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. Mizuho Securities USA LLC boosted its stake in shares of Norfolk Southern by 18,831.2% in the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after buying an additional 3,280,579 shares in the last quarter. FMR LLC boosted its position in shares of Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after purchasing an additional 881,415 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Norfolk Southern during the 3rd quarter worth $207,830,000. Holocene Advisors LP purchased a new position in shares of Norfolk Southern in the 3rd quarter valued at about $122,798,000. Finally, Public Sector Pension Investment Board lifted its stake in shares of Norfolk Southern by 1,840.0% in the third quarter. Public Sector Pension Investment Board now owns 355,152 shares of the railroad operator’s stock valued at $88,255,000 after purchasing an additional 336,845 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $244.90 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The company has a market cap of $55.45 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The stock’s 50-day moving average is $246.25 and its 200-day moving average is $250.94.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Equities analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.20%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insider Buying and Selling at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction that occurred on 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 acquisition, 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sameh Fahmy acquired 350 shares of the stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NSC shares. Royal Bank of Canada raised their price objective on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Susquehanna cut their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird lifted their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Citigroup raised their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $276.11.

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.