Norfolk Southern Co. (NYSE:NSC) Position Trimmed by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 23.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,059 shares of the railroad operator’s stock after selling 331 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Norfolk Southern were worth $249,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in Norfolk Southern by 4.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 11,314 shares of the railroad operator’s stock worth $2,812,000 after purchasing an additional 511 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Norfolk Southern by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after acquiring an additional 2,453 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Norfolk Southern by 3.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 44,763 shares of the railroad operator’s stock worth $11,123,000 after buying an additional 1,529 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Norfolk Southern by 11.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 79,305 shares of the railroad operator’s stock worth $19,468,000 after buying an additional 8,249 shares during the period. Finally, Pallas Capital Advisors LLC raised its holdings in Norfolk Southern by 17.3% during the 3rd quarter. Pallas Capital Advisors LLC now owns 1,162 shares of the railroad operator’s stock worth $294,000 after buying an additional 171 shares during the period. Institutional investors own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was bought 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 represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction dated 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 trade represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC stock opened at $241.77 on Thursday. The stock’s fifty day moving average is $245.60 and its 200-day moving average is $250.77. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a market capitalization of $54.74 billion, a PE ratio of 20.91, a PEG ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS 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%. Equities research analysts expect that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business 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. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.23%. Norfolk Southern’s payout ratio is currently 46.71%.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Barclays upped their target price on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Citigroup upped their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada upped their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Stephens upped 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. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $276.11.

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.