South Dakota Investment Council Sells 1,500 Shares of Norfolk Southern Co. (NYSE:NSC)

South Dakota Investment Council trimmed its holdings in Norfolk Southern Co. (NYSE:NSC) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 44,465 shares of the railroad operator’s stock after selling 1,500 shares during the quarter. South Dakota Investment Council’s holdings in Norfolk Southern were worth $10,511,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cutter & CO Brokerage Inc. boosted its position in Norfolk Southern by 6.7% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 3,586 shares of the railroad operator’s stock worth $848,000 after purchasing an additional 226 shares during the last quarter. GAMMA Investing LLC purchased a new position in Norfolk Southern in the fourth quarter worth about $314,000. Community Bank & Trust Waco Texas boosted its position in Norfolk Southern by 15.9% in the fourth quarter. Community Bank & Trust Waco Texas now owns 11,081 shares of the railroad operator’s stock worth $2,619,000 after purchasing an additional 1,523 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Norfolk Southern by 17.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,984 shares of the railroad operator’s stock worth $705,000 after purchasing an additional 434 shares during the last quarter. Finally, 1900 Wealth Management LLC purchased a new position in Norfolk Southern in the fourth quarter worth about $668,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. TD Cowen boosted their price target on Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. The Goldman Sachs Group boosted their price target on Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Loop Capital boosted their price target on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Barclays raised Norfolk Southern from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $255.00 to $305.00 in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus target price of $262.74.

Norfolk Southern Trading Down 3.8 %

NSC traded down $9.21 during trading hours on Wednesday, reaching $235.82. 1,769,785 shares of the company’s stock traded hands, compared to its average volume of 1,271,089. The firm has a 50-day moving average price of $252.66 and a 200 day moving average price of $232.09. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $58.06 billion, a PE ratio of 30.55, a PEG ratio of 3.34 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the firm earned $3.42 EPS. Norfolk Southern’s revenue was down 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Norfolk Southern Co. will post 11.93 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.29%. Norfolk Southern’s dividend payout ratio is 67.33%.

Norfolk Southern 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.