Thoroughbred Financial Services LLC Decreases Position in Norfolk Southern Co. (NYSE:NSC)

Thoroughbred Financial Services LLC trimmed its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,231 shares of the railroad operator’s stock after selling 63 shares during the period. Thoroughbred Financial Services LLC’s holdings in Norfolk Southern were worth $1,227,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NSC. Norges Bank bought a new stake in Norfolk Southern in the fourth quarter valued at approximately $547,575,000. Boston Partners increased its stake in shares of Norfolk Southern by 16.9% in the fourth quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock worth $945,385,000 after buying an additional 580,293 shares during the period. Amundi raised its holdings in Norfolk Southern by 56.4% during the 4th quarter. Amundi now owns 1,302,635 shares of the railroad operator’s stock valued at $308,607,000 after buying an additional 469,558 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Norfolk Southern during the 4th quarter valued at $105,225,000. Finally, Cbre Investment Management Listed Real Assets LLC bought a new stake in Norfolk Southern in the 4th quarter worth $75,621,000. 75.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NSC. UBS Group dropped their target price on shares of Norfolk Southern from $305.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday. Barclays cut their price objective on Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating on the stock in a research report on Wednesday. Benchmark restated a “buy” rating and set a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Royal Bank of Canada boosted their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price objective 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $272.74.

Norfolk Southern Price Performance

NSC opened at $210.78 on Friday. The firm has a market cap of $51.97 billion, a PE ratio of 18.23, a P/E/G ratio of 2.31 and a beta of 1.30. The stock has a 50-day moving average price of $242.94 and a 200-day moving average price of $248.36. 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 Dividend Announcement

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 2.56%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insider Activity at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently 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.