Kanawha Capital Management LLC Cuts Stock Position in Norfolk Southern Co. (NYSE:NSC)

Kanawha Capital Management LLC lessened its stake in Norfolk Southern Co. (NYSE:NSC) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,208 shares of the railroad operator’s stock after selling 850 shares during the quarter. Kanawha Capital Management LLC’s holdings in Norfolk Southern were worth $12,488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. Exchange Traded Concepts LLC purchased a new stake in shares of Norfolk Southern during the third quarter worth $144,000. CX Institutional grew its holdings in shares of Norfolk Southern by 14.7% during the third quarter. CX Institutional now owns 2,319 shares of the railroad operator’s stock worth $576,000 after buying an additional 298 shares in the last quarter. Creative Planning grew its holdings in shares of Norfolk Southern by 0.6% during the third quarter. Creative Planning now owns 84,364 shares of the railroad operator’s stock worth $20,965,000 after buying an additional 517 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in shares of Norfolk Southern by 4.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after buying an additional 42 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in shares of Norfolk Southern by 1.9% in the third quarter. Vontobel Holding Ltd. now owns 3,252 shares of the railroad operator’s stock valued at $808,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gilbert H. Lamphere purchased 607 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $257.22 on Friday. The firm has a market capitalization of $58.19 billion, a P/E ratio of 22.25, a P/E/G ratio of 2.32 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. 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 firm’s 50 day moving average is $245.58 and its two-hundred day moving average is $250.33.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS 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%. Research analysts forecast that Norfolk Southern Co. will post 13.02 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.10%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Stephens upped their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Royal Bank of Canada upped their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Robert W. Baird upped their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Bank of America upped their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI decreased their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern 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.