SevenBridge Financial Group LLC Cuts Stake in Norfolk Southern Co. (NYSE:NSC)

SevenBridge Financial Group LLC lowered its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,874 shares of the railroad operator’s stock after selling 503 shares during the period. SevenBridge Financial Group LLC’s holdings in Norfolk Southern were worth $3,045,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of NSC. Principal Financial Group Inc. increased its stake in shares of Norfolk Southern by 3.6% in the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock worth $63,417,000 after buying an additional 8,844 shares during the period. Caprock Group LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $1,796,000. Grandview Asset Management LLC purchased a new position in Norfolk Southern during the 4th quarter valued at about $918,000. Dorsey & Whitney Trust CO LLC raised its position in Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator’s stock valued at $1,333,000 after purchasing an additional 128 shares during the last quarter. Finally, Clarendon Private LLC purchased a new stake in Norfolk Southern in the 4th quarter worth approximately $309,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Loop Capital downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price target for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, Stephens lifted their price objective on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.84.

Norfolk Southern Price Performance

NSC opened at $236.46 on Wednesday. The firm has a market cap of $53.54 billion, a PE ratio of 20.45, a P/E/G ratio of 2.31 and a beta of 1.35. The stock has a 50-day moving average price of $244.81 and a 200-day moving average price of $248.86. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. 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 (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping 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 predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insider Activity

In related news, Director Gilbert H. Lamphere acquired 607 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.