Reynders McVeigh Capital Management LLC Lowers Position in Norfolk Southern Co. (NYSE:NSC)

Reynders McVeigh Capital Management LLC decreased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 3.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,144 shares of the railroad operator’s stock after selling 108 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Norfolk Southern were worth $738,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Norfolk Southern by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 20,089,164 shares of the railroad operator’s stock worth $4,714,927,000 after purchasing an additional 139,485 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Norfolk Southern by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator’s stock worth $1,098,472,000 after acquiring an additional 113,648 shares in the last quarter. Boston Partners lifted its position in Norfolk Southern by 16.9% during the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock valued at $945,385,000 after acquiring an additional 580,293 shares during the period. FMR LLC boosted its stake in Norfolk Southern by 13.8% during the fourth quarter. FMR LLC now owns 3,073,933 shares of the railroad operator’s stock worth $721,452,000 after acquiring an additional 371,589 shares in the last quarter. Finally, Norges Bank purchased a new stake in Norfolk Southern in the fourth quarter worth about $547,575,000. Institutional investors own 75.10% of the company’s stock.

Insider Activity at Norfolk Southern

In other news, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Price Performance

NYSE NSC opened at $217.94 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $53.73 billion, a P/E ratio of 18.85, a PEG ratio of 2.31 and a beta of 1.30. The company has a 50-day moving average price of $237.20 and a 200-day moving average price of $246.72. Norfolk Southern Co. has a 52 week low of $201.63 and a 52 week high of $277.60.

Norfolk Southern (NYSE:NSC) last released its quarterly 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 net margin of 21.63% and a return on equity of 20.04%. Equities research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed 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 2.48%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Susquehanna dropped their target price on Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Barclays reduced their price target on Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Loop Capital downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and dropped their target price for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. One equities 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $268.68.

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.