Kornitzer Capital Management Inc. KS Sells 561 Shares of Norfolk Southern Co. (NYSE:NSC)

Kornitzer Capital Management Inc. KS trimmed its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,450 shares of the railroad operator’s stock after selling 561 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Norfolk Southern were worth $6,208,000 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 the stock. Citizens & Northern Corp boosted its position in Norfolk Southern by 2.2% during the fourth quarter. Citizens & Northern Corp now owns 9,474 shares of the railroad operator’s stock worth $2,224,000 after purchasing an additional 206 shares during the period. Truist Financial Corp lifted its holdings in shares of Norfolk Southern by 9.7% during the fourth quarter. Truist Financial Corp now owns 240,796 shares of the railroad operator’s stock worth $56,515,000 after buying an additional 21,335 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Norfolk Southern by 2.3% during the fourth quarter. CIBC Asset Management Inc now owns 44,743 shares of the railroad operator’s stock worth $10,501,000 after buying an additional 997 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Norfolk Southern by 3.2% during the fourth quarter. Sanctuary Advisors LLC now owns 47,712 shares of the railroad operator’s stock worth $12,272,000 after buying an additional 1,465 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in shares of Norfolk Southern by 1.0% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 8,765 shares of the railroad operator’s stock worth $2,057,000 after buying an additional 83 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. The trade was a 32.29 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the acquisition, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays lifted their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Bank of America lifted their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. UBS Group lifted their target price on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, TD Cowen boosted their price target on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $276.11.

Norfolk Southern Stock Up 0.9 %

Shares of NYSE NSC opened at $258.37 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The company has a market cap of $58.45 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 2.32 and a beta of 1.35. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The stock has a 50-day moving average price of $245.37 and a two-hundred day moving average price of $250.62.

Norfolk Southern (NYSE:NSC) last issued its 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, analysts forecast that Norfolk Southern Co. will post 13.02 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

About Norfolk Southern

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.