Fruth Investment Management Sells 70 Shares of Norfolk Southern Co. (NYSE:NSC)

Fruth Investment Management decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,608 shares of the railroad operator’s stock after selling 70 shares during the period. Fruth Investment Management’s holdings in Norfolk Southern were worth $2,020,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Highline Wealth Partners LLC purchased a new position in shares of Norfolk Southern during the third quarter valued at about $25,000. Financial Life Planners bought a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Morse Asset Management Inc purchased a new position in Norfolk Southern in the third quarter worth about $30,000. Coastline Trust Co bought a new stake in Norfolk Southern during the third quarter worth approximately $32,000. Finally, Capital Performance Advisors LLP purchased a new stake in Norfolk Southern during the third quarter valued at approximately $33,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Down 0.1 %

Shares of NYSE NSC opened at $252.66 on Thursday. The stock has a market capitalization of $57.16 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 2.35 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The stock’s fifty day simple moving average is $247.98 and its two-hundred day simple moving average is $249.47.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. As a group, analysts expect that Norfolk Southern Co. will post 13.07 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be paid a $1.35 dividend. The ex-dividend date is Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.14%. Norfolk Southern’s dividend payout ratio (DPR) is 46.71%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Bank of America lifted their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird boosted their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Evercore ISI reduced their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Barclays upped their target price on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $276.11.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere acquired 607 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy bought 350 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the transaction, the director now 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.