Norfolk Southern Co. (NYSE:NSC) Stock Position Trimmed by California State Teachers Retirement System

California State Teachers Retirement System cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 335,552 shares of the railroad operator’s stock after selling 15,231 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Norfolk Southern worth $78,754,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Financial Life Planners bought a new stake in shares of Norfolk Southern during the 4th quarter worth about $27,000. Keystone Financial Group Inc. acquired a new position in shares of Norfolk Southern during the 4th quarter valued at $27,000. Bank of Jackson Hole Trust acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at $27,000. Vision Financial Markets LLC acquired a new position in Norfolk Southern during the fourth quarter worth about $28,000. Finally, Atlantic Private Wealth LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insiders Place Their Bets

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $221.83 on Tuesday. The business’s 50 day moving average is $229.81 and its 200-day moving average is $244.73. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $54.69 billion, a PE ratio of 19.19, a PEG ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a 1-year low of $201.63 and a 1-year high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the firm earned $2.49 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.43%. The ex-dividend date is Friday, May 2nd. Norfolk Southern’s payout ratio is presently 36.89%.

Analysts Set New Price Targets

NSC has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Jefferies Financial Group dropped their target price on shares of Norfolk Southern from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. UBS Group reduced their price target on shares of Norfolk Southern from $284.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Robert W. Baird boosted their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Bank of America decreased their price objective on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $266.10.

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.