Franklin Street Advisors Inc. NC Sells 3,420 Shares of Norfolk Southern Co. (NYSE:NSC)

Franklin Street Advisors Inc. NC trimmed its stake in Norfolk Southern Co. (NYSE:NSC) by 23.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,200 shares of the railroad operator’s stock after selling 3,420 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Norfolk Southern were worth $2,629,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. 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 valued at $63,417,000 after buying an additional 8,844 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Norfolk Southern by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after purchasing an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Norfolk Southern by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after purchasing an additional 3,621 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of Norfolk Southern during the second quarter worth $1,676,000. 75.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Sameh Fahmy acquired 350 shares of Norfolk Southern stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the purchase, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

NYSE NSC traded down $2.56 during trading hours on Friday, reaching $234.35. 285,809 shares of the company were exchanged, compared to its average volume of 839,132. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $53.02 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.34 and a beta of 1.34. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The business’s 50 day simple moving average is $253.60 and its 200-day simple moving average is $245.30.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the business posted $2.65 earnings per share. On average, equities research analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.30%. Norfolk Southern’s dividend payout ratio is 50.70%.

Analyst Upgrades and Downgrades

A number of analysts have commented on NSC shares. Benchmark upped their price target on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna decreased their price objective on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays increased their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Citigroup lifted their price target on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $275.68.

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.