Duff & Phelps Investment Management Co. Sells 38,723 Shares of Norfolk Southern Co. (NYSE:NSC)

Duff & Phelps Investment Management Co. lessened its holdings in Norfolk Southern Co. (NYSE:NSC) by 27.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,137 shares of the railroad operator’s stock after selling 38,723 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Norfolk Southern were worth $23,972,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Norfolk Southern by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 20,089,164 shares of the railroad operator’s stock valued at $4,714,927,000 after acquiring an additional 139,485 shares during the period. State Street Corp grew its stake in shares of Norfolk Southern by 2.1% in the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock valued at $2,318,716,000 after purchasing an additional 196,249 shares during the period. Geode Capital Management LLC raised its holdings in shares of Norfolk Southern by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after buying an additional 62,186 shares in the last quarter. Boston Partners lifted its position in shares of Norfolk Southern by 16.9% during the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock worth $945,385,000 after buying an additional 580,293 shares during the period. Finally, EdgePoint Investment Group Inc. lifted its position in shares of Norfolk Southern by 2.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock worth $967,340,000 after buying an additional 103,281 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a research note on Friday, March 7th. They set a “buy” rating and a $293.00 price objective for the company. Bank of America cut their price target on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a report on Tuesday. Robert W. Baird upped their price objective 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. Wells Fargo & Company cut their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada increased their price target on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $274.84.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. The trade was a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC opened at $235.51 on Friday. The firm has a market capitalization of $53.33 billion, a PE ratio of 20.37, a P/E/G ratio of 2.31 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 debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a 50 day simple moving average of $245.58 and a 200 day simple moving average of $249.32.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Sell-side analysts predict that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.29%. Norfolk Southern’s dividend payout ratio (DPR) is presently 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.