Norfolk Southern Co. (NYSE:NSC) Stock Position Trimmed by Covington Investment Advisors Inc.

Covington Investment Advisors Inc. reduced its stake in Norfolk Southern Co. (NYSE:NSC) by 8.5% in the fourth quarter, HoldingsChannel reports. The fund owned 19,171 shares of the railroad operator’s stock after selling 1,790 shares during the quarter. Covington Investment Advisors Inc.’s holdings in Norfolk Southern were worth $4,499,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NSC. Financial Life Planners acquired a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $27,000. Keystone Financial Group Inc. bought a new position in shares of Norfolk Southern during the 4th quarter worth about $27,000. Bank of Jackson Hole Trust bought a new stake in Norfolk Southern in the 4th quarter valued at $27,000. Vision Financial Markets LLC acquired a new position in shares of Norfolk Southern in the 4th quarter worth approximately $28,000. Finally, Atlantic Private Wealth LLC bought a new position in Norfolk Southern during the 4th quarter valued at about $29,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Stephens boosted their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Robert W. Baird increased their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a report on Friday, March 7th. They issued a “buy” rating and a $293.00 price target for the company. Susquehanna dropped their price objective on shares of Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada boosted their price target on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $274.84.

Norfolk Southern Trading Down 0.1 %

NSC opened at $235.51 on Friday. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company’s 50 day moving average is $245.58 and its 200-day moving average is $249.32. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The company has a market cap of $53.33 billion, a P/E ratio of 20.37, a PEG ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data 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 net margin of 21.63% and a return on equity of 20.04%. Equities research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.29%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insider Buying and Selling

In other news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The stock was 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 of the company’s stock, valued at approximately $646,271.82. The trade was a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

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.