Sandy Spring Bank Cuts Stake in Norfolk Southern Co. (NYSE:NSC)

Sandy Spring Bank cut its position in Norfolk Southern Co. (NYSE:NSC) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,445 shares of the railroad operator’s stock after selling 433 shares during the period. Sandy Spring Bank’s holdings in Norfolk Southern were worth $3,860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Life Planners purchased a new stake in shares of Norfolk Southern during the fourth quarter valued at $27,000. Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern in the fourth quarter worth approximately $27,000. Bank of Jackson Hole Trust purchased a new position in shares of Norfolk Southern during the fourth quarter valued at approximately $27,000. Morse Asset Management Inc bought a new position in Norfolk Southern during the third quarter valued at approximately $30,000. Finally, Vision Financial Markets LLC purchased a new stake in Norfolk Southern in the fourth quarter worth approximately $28,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.5 %

Shares of NSC opened at $233.45 on Friday. The business’s 50 day moving average is $246.07 and its 200 day moving average is $250.02. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The company has a market capitalization of $52.86 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (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 expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stephens increased 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. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Royal Bank of Canada boosted their price target on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Robert W. Baird lifted their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a research note on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average target price of $276.95.

Insider Activity

In other news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

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.