Probity Advisors Inc. Sells 381 Shares of Norfolk Southern Co. (NYSE:NSC)

Probity Advisors Inc. cut its position in Norfolk Southern Co. (NYSE:NSCGet Rating) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,438 shares of the railroad operator’s stock after selling 381 shares during the quarter. Probity Advisors Inc.’s holdings in Norfolk Southern were worth $1,917,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Partners LLC bought a new stake in shares of Norfolk Southern in the fourth quarter valued at $27,000. Benjamin Edwards Inc. grew its position in shares of Norfolk Southern by 141.4% in the fourth quarter. Benjamin Edwards Inc. now owns 140 shares of the railroad operator’s stock valued at $42,000 after purchasing an additional 82 shares in the last quarter. Atticus Wealth Management LLC purchased a new position in shares of Norfolk Southern in the fourth quarter valued at $45,000. Amplius Wealth Advisors LLC purchased a new position in shares of Norfolk Southern in the fourth quarter valued at $49,000. Finally, Allworth Financial LP grew its position in shares of Norfolk Southern by 86.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the railroad operator’s stock valued at $54,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 73.63% of the company’s stock.

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Norfolk Southern from $318.00 to $308.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. Royal Bank of Canada lifted their price target on Norfolk Southern from $262.00 to $273.00 in a research report on Thursday, January 27th. Susquehanna Bancshares reduced their price target on Norfolk Southern from $356.00 to $350.00 in a research report on Thursday, April 7th. StockNews.com initiated coverage on Norfolk Southern in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, TD Securities boosted their target price on Norfolk Southern from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $309.41.

NSC traded up $3.26 during midday trading on Friday, reaching $249.32. 1,116,431 shares of the company’s stock traded hands, compared to its average volume of 1,423,140. The firm has a fifty day moving average of $265.24 and a two-hundred day moving average of $274.53. The stock has a market capitalization of $59.42 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 1.70 and a beta of 1.36. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.96 and a quick ratio of 0.87. Norfolk Southern Co. has a 52 week low of $238.62 and a 52 week high of $299.20.

Norfolk Southern (NYSE:NSCGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The railroad operator reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.02. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.83 billion. Norfolk Southern had a return on equity of 21.95% and a net margin of 26.58%. Norfolk Southern’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.66 EPS. Sell-side analysts forecast that Norfolk Southern Co. will post 13.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Friday, May 6th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, May 5th. Norfolk Southern’s dividend payout ratio is currently 40.03%.

Norfolk Southern declared that its board has authorized a stock repurchase plan on Tuesday, March 29th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the railroad operator to purchase up to 14.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other Norfolk Southern news, Director Steven F. Leer sold 700 shares of the stock in a transaction on Monday, March 14th. The stock was sold at an average price of $265.51, for a total transaction of $185,857.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Alan H. Shaw sold 1,000 shares of the stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $256.70, for a total value of $256,700.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

About Norfolk Southern (Get Rating)

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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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