Fayez Sarofim & Co Sells 100 Shares of Norfolk Southern Co. (NYSE:NSC)

Fayez Sarofim & Co lowered its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,319 shares of the railroad operator’s stock after selling 100 shares during the quarter. Fayez Sarofim & Co’s holdings in Norfolk Southern were worth $1,248,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Morse Asset Management Inc acquired a new position in shares of Norfolk Southern during the third quarter valued at about $30,000. Wealthquest Corp bought a new stake in shares of Norfolk Southern during the third quarter valued at approximately $216,000. Anchor Investment Management LLC lifted its position in Norfolk Southern by 1.2% in the third quarter. Anchor Investment Management LLC now owns 14,265 shares of the railroad operator’s stock worth $3,545,000 after purchasing an additional 170 shares during the period. World Investment Advisors LLC boosted its stake in Norfolk Southern by 10.7% during the third quarter. World Investment Advisors LLC now owns 11,226 shares of the railroad operator’s stock worth $2,790,000 after buying an additional 1,089 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in Norfolk Southern by 23.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 56,256 shares of the railroad operator’s stock valued at $13,980,000 after buying an additional 10,593 shares during the period. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Down 0.5 %

NYSE NSC opened at $218.78 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The stock’s 50-day moving average is $233.08 and its 200-day moving average is $245.54. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The firm has a market cap of $53.94 billion, a P/E ratio of 18.93, a P/E/G ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.47%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group cut their price target on shares of Norfolk Southern from $305.00 to $284.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Citigroup decreased their target price on Norfolk Southern from $298.00 to $259.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price target 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 lowered Norfolk Southern from a “buy” rating to a “hold” rating and cut their price target for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, Barclays lowered their price objective on Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $268.79.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the transaction, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

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.