Baxter Bros Inc. Reduces Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Baxter Bros Inc. trimmed its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 6.8% in the fourth quarter, Holdings Channel reports. The fund owned 20,769 shares of the railroad operator’s stock after selling 1,514 shares during the period. Baxter Bros Inc.’s holdings in Norfolk Southern were worth $4,874,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NSC shares. JPMorgan Chase & Co. upped their price objective on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Wells Fargo & Company reduced their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada raised their price target on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Stephens increased their target price on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a research report on Friday, March 7th. They set a “buy” rating and a $293.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.63.

Insider Activity at Norfolk Southern

In related news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction dated 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 in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by insiders.

Norfolk Southern Stock Up 1.9 %

Norfolk Southern stock opened at $236.11 on Tuesday. The firm has a 50 day simple moving average of $246.01 and a 200 day simple moving average of $249.63. The firm has a market capitalization of $53.46 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 2.31 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is 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.