Norfolk Southern Co. (NYSE:NSC) Shares Sold by CenterBook Partners LP

CenterBook Partners LP lessened its holdings in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 21.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,947 shares of the railroad operator’s stock after selling 2,773 shares during the period. CenterBook Partners LP’s holdings in Norfolk Southern were worth $2,351,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank bought a new position in Norfolk Southern in the 4th quarter worth about $556,797,000. American Century Companies Inc. grew its position in Norfolk Southern by 69.0% in the 3rd quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock valued at $536,319,000 after buying an additional 1,112,261 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Norfolk Southern by 600.3% in the fourth quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock valued at $241,421,000 after acquiring an additional 875,473 shares in the last quarter. London Co. of Virginia increased its position in shares of Norfolk Southern by 41.2% during the 3rd quarter. London Co. of Virginia now owns 1,976,871 shares of the railroad operator’s stock valued at $389,305,000 after purchasing an additional 577,171 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in Norfolk Southern during the third quarter worth about $103,223,000. Institutional investors own 75.10% of the company’s stock.

Insider Activity

In other news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Claude Mongeau purchased 5,650 shares of Norfolk Southern stock in a transaction on Wednesday, May 29th. The stock was purchased at an average price of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $4,420,000. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on NSC. Wells Fargo & Company assumed coverage on Norfolk Southern in a report on Friday. They issued an “overweight” rating and a $270.00 target price on the stock. UBS Group reduced their price objective on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Susquehanna decreased their target price on shares of Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Citigroup boosted their price target on shares of Norfolk Southern from $253.00 to $286.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus raised their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $264.56.

Get Our Latest Stock Report on Norfolk Southern

Norfolk Southern Stock Performance

NYSE NSC traded down $0.63 during trading on Friday, hitting $224.07. The company’s stock had a trading volume of 773,113 shares, compared to its average volume of 1,338,395. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The firm has a market cap of $50.62 billion, a P/E ratio of 36.08, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. The firm has a 50 day moving average price of $235.33 and a 200 day moving average price of $238.76. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37.

Norfolk Southern (NYSE:NSCGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm posted $3.32 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts forecast that Norfolk Southern Co. will post 11.88 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were given a dividend of $1.35 per share. The ex-dividend date was Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.41%. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Norfolk Southern Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Co. (NYSE:NSCFree Report).

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.