Verdence Capital Advisors LLC Reduces Stock Position in Norfolk Southern Co. (NYSE:NSC)

Verdence Capital Advisors LLC lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 3.7% in the fourth quarter, HoldingsChannel reports. The firm owned 34,391 shares of the railroad operator’s stock after selling 1,323 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Norfolk Southern were worth $8,071,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSC. Gladstone Institutional Advisory LLC purchased a new stake in Norfolk Southern during the 3rd quarter worth about $203,000. Farther Finance Advisors LLC increased its position in Norfolk Southern by 31.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,945 shares of the railroad operator’s stock worth $732,000 after purchasing an additional 713 shares in the last quarter. Van ECK Associates Corp increased its position in Norfolk Southern by 123.5% during the 3rd quarter. Van ECK Associates Corp now owns 44,628 shares of the railroad operator’s stock worth $11,469,000 after purchasing an additional 24,662 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Norfolk Southern by 79.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 22,398 shares of the railroad operator’s stock worth $5,566,000 after purchasing an additional 9,891 shares in the last quarter. Finally, National Pension Service increased its position in Norfolk Southern by 16.1% during the 3rd quarter. National Pension Service now owns 520,820 shares of the railroad operator’s stock worth $129,424,000 after purchasing an additional 72,198 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $239.18 on Wednesday. The stock’s 50 day moving average price is $246.28 and its 200 day moving average price is $250.93. The firm has a market capitalization of $54.16 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60.

Norfolk Southern (NYSE:NSC) last released 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%. As a group, sell-side analysts expect that Norfolk Southern Co. will post 13 EPS for the current fiscal 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 dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Analyst Upgrades and Downgrades

Several research firms have commented on NSC. Susquehanna lowered their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Benchmark restated a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a report on Thursday, January 30th. Citigroup lifted their price target on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird lifted their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Stephens lifted their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $276.11.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were bought 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 in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

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.