Norfolk Southern Co. (NYSE:NSC) Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA cut its stake in Norfolk Southern Co. (NYSE:NSC) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,748 shares of the railroad operator’s stock after selling 1,271 shares during the quarter. Norfolk Southern comprises approximately 1.9% of Berkshire Asset Management LLC PA’s investment portfolio, making the stock its 16th biggest position. Berkshire Asset Management LLC PA owned about 0.07% of Norfolk Southern worth $39,664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ashton Thomas Private Wealth LLC increased its stake in shares of Norfolk Southern by 34.4% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,285 shares of the railroad operator’s stock worth $1,006,000 after acquiring an additional 1,097 shares during the last quarter. Callan Family Office LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter worth $3,091,000. Schrum Private Wealth Management LLC increased its stake in shares of Norfolk Southern by 108.0% in the 4th quarter. Schrum Private Wealth Management LLC now owns 2,633 shares of the railroad operator’s stock worth $618,000 after acquiring an additional 1,367 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its stake in shares of Norfolk Southern by 11.6% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 15,604 shares of the railroad operator’s stock worth $3,662,000 after acquiring an additional 1,616 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Norfolk Southern by 52.0% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 1,666 shares of the railroad operator’s stock worth $391,000 after purchasing an additional 570 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy purchased 350 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilbert H. Lamphere purchased 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NSC. Robert W. Baird increased their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Barclays increased their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Wells Fargo & Company lowered their price target on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price target for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Finally, Susquehanna lowered their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.11.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $239.17 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The firm has a market capitalization of $54.16 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The stock’s 50-day simple moving average is $246.33 and its 200-day simple moving average is $250.76.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping 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, equities research analysts forecast that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

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.