Cohen & Steers Inc. Sells 257,068 Shares of Norfolk Southern Co. (NYSE:NSC)

Cohen & Steers Inc. lessened its position in Norfolk Southern Co. (NYSE:NSC) by 55.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 204,941 shares of the railroad operator’s stock after selling 257,068 shares during the quarter. Cohen & Steers Inc. owned approximately 0.09% of Norfolk Southern worth $48,100,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NSC. Financial Life Planners bought a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $27,000. Keystone Financial Group Inc. bought a new position in Norfolk Southern during the fourth quarter worth about $27,000. Bank of Jackson Hole Trust bought a new position in Norfolk Southern during the fourth quarter worth about $27,000. Vision Financial Markets LLC acquired a new position in Norfolk Southern during the fourth quarter worth approximately $28,000. Finally, Atlantic Private Wealth LLC bought a new stake in Norfolk Southern in the fourth quarter valued at approximately $29,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Robert W. Baird boosted their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Loop Capital cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and cut their target price for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. Royal Bank of Canada increased their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Stephens boosted their price objective on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $268.68.

Norfolk Southern Trading Up 1.1 %

NSC opened at $217.94 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month high of $277.60. The stock has a market capitalization of $53.73 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 2.31 and a beta of 1.30. The company has a 50-day simple moving average of $237.20 and a 200 day simple moving average of $246.74.

Norfolk Southern (NYSE:NSC) last posted its quarterly 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%. Analysts predict that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.48%. Norfolk Southern’s dividend payout ratio is currently 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.