Loomis Sayles & Co. L P Lowers Holdings in Norfolk Southern Co. (NYSE:NSC)

Loomis Sayles & Co. L P cut its position in shares of Norfolk Southern Co. (NYSE:NSC) by 55.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 248 shares of the railroad operator’s stock after selling 310 shares during the period. Loomis Sayles & Co. L P’s holdings in Norfolk Southern were worth $58,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners purchased a new stake in Norfolk Southern in the fourth quarter worth about $27,000. Keystone Financial Group Inc. bought a new position in shares of Norfolk Southern during the fourth quarter valued at approximately $27,000. Bank of Jackson Hole Trust purchased a new position in Norfolk Southern during the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new position in Norfolk Southern in the fourth quarter worth approximately $28,000. Finally, Atlantic Private Wealth LLC bought a new stake in Norfolk Southern during the 4th quarter valued at $29,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NSC. Deutsche Bank Aktiengesellschaft initiated coverage on Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 price target for the company. Susquehanna lowered their price target on shares of Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada boosted their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and cut their price target for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Finally, Bank of America lowered their price objective on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $274.84.

Norfolk Southern Stock Down 2.0 %

NSC stock opened at $230.41 on Monday. The company has a market capitalization of $52.17 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 2.31 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 firm’s fifty day simple moving average is $245.28 and its 200-day simple moving average is $249.05. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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, equities research analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.34%. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.