Voya Investment Management LLC Lowers Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Voya Investment Management LLC cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 6.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,959 shares of the railroad operator’s stock after selling 3,315 shares during the period. Voya Investment Management LLC’s holdings in Norfolk Southern were worth $10,552,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Norfolk Southern by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after buying an additional 8,844 shares during the period. Geode Capital Management LLC grew its stake in shares of Norfolk Southern by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator’s stock valued at $1,098,472,000 after buying an additional 113,648 shares during the period. Caprock Group LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at $1,796,000. Grandview Asset Management LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at $918,000. Finally, Dorsey & Whitney Trust CO LLC grew its stake in shares of Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator’s stock valued at $1,333,000 after buying an additional 128 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Norfolk Southern in a report on Friday, March 7th. They set a “buy” rating and a $293.00 target price on the stock. JPMorgan Chase & Co. lifted their target price 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 shares of Norfolk Southern from a “buy” rating to a “hold” rating and reduced their target price for the company from $289.00 to $256.00 in a report on Monday, February 3rd. Royal Bank of Canada reduced their target price on shares of Norfolk Southern from $271.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Finally, BMO Capital Markets restated a “market perform” rating and set a $255.00 target price on shares of Norfolk Southern in a report on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.10.

Insider Buying and Selling

In related news, Director Gilbert H. Lamphere purchased 607 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the acquisition, the director now 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Norfolk Southern Trading Up 0.1 %

NYSE:NSC opened at $221.83 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average is $229.81 and its two-hundred day moving average is $244.73. Norfolk Southern Co. has a 52 week low of $201.63 and a 52 week high of $277.60. The company has a market cap of $54.69 billion, a PE ratio of 19.19, a P/E/G ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.03). Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the business earned $2.49 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts predict that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 36.89%.

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.