Norfolk Southern Co. (NYSE:NSC) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP lowered its position in Norfolk Southern Co. (NYSE:NSC) by 58.8% in the fourth quarter, HoldingsChannel reports. The firm owned 6,747 shares of the railroad operator’s stock after selling 9,615 shares during the period. Cinctive Capital Management LP’s holdings in Norfolk Southern were worth $1,584,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NSC. United Bank grew its stake in shares of Norfolk Southern by 2.4% in the third quarter. United Bank now owns 8,875 shares of the railroad operator’s stock valued at $2,205,000 after buying an additional 204 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of Norfolk Southern in the 3rd quarter valued at $1,346,000. Hilltop Holdings Inc. lifted its position in shares of Norfolk Southern by 34.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 2,830 shares of the railroad operator’s stock worth $703,000 after purchasing an additional 724 shares during the last quarter. Investment Management Corp of Ontario grew its stake in shares of Norfolk Southern by 47.5% during the third quarter. Investment Management Corp of Ontario now owns 7,457 shares of the railroad operator’s stock worth $1,853,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new stake in Norfolk Southern during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 7.6 %

Shares of NYSE:NSC opened at $220.32 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock’s 50-day moving average is $243.83 and its 200-day moving average is $248.59. The company has a market cap of $49.89 billion, a P/E ratio of 19.06, a P/E/G ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60.

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

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of recent research reports. Bank of America dropped their price objective on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. 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 report on Wednesday. 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 target price on the stock. Royal Bank of Canada increased their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Susquehanna reduced their price objective on shares of Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $272.74.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The stock was bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Company 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.