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

Principal Financial Group Inc. decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 253,289 shares of the railroad operator’s stock after selling 1,911 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Norfolk Southern worth $59,447,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Lake Street Advisors Group LLC boosted its stake in shares of Norfolk Southern by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after purchasing an additional 41 shares during the period. Raab & Moskowitz Asset Management LLC lifted its holdings in Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after buying an additional 41 shares in the last quarter. Archer Investment Corp boosted its position in Norfolk Southern by 2.3% in the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock valued at $481,000 after buying an additional 43 shares during the period. Albert D Mason Inc. grew its stake in shares of Norfolk Southern by 0.7% in the fourth quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after acquiring an additional 46 shares in the last quarter. Finally, Maia Wealth LLC increased its position in shares of Norfolk Southern by 4.7% during the third quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock worth $264,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $248.96 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The firm has a market cap of $56.37 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.37 and a beta of 1.35. The firm’s fifty day moving average price is $245.41 and its 200 day moving average price is $250.61. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data 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 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 13.02 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.17%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NSC shares. Stephens lifted their target price on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. TD Cowen upped their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Bank of America raised their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, UBS Group boosted their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average price target of $276.11.

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction on Friday, January 31st. The stock was bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sameh Fahmy purchased 350 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.