Simmons Bank Trims Stock Position in Norfolk Southern Co. (NYSE:NSC)

Simmons Bank lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,124 shares of the railroad operator’s stock after selling 60 shares during the period. Simmons Bank’s holdings in Norfolk Southern were worth $733,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in shares of Norfolk Southern during the 3rd quarter valued at about $25,000. Financial Life Planners purchased a new position in shares of Norfolk Southern during the 4th quarter valued at about $27,000. Keystone Financial Group Inc. purchased a new position in shares of Norfolk Southern during the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new position in shares of Norfolk Southern during the 4th quarter valued at about $27,000. Finally, Morse Asset Management Inc purchased a new position in shares of Norfolk Southern during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NSC shares. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and cut their price target for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Benchmark restated a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a research note on Thursday, January 30th. Citigroup lifted their price target on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stephens lifted their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Robert W. Baird lifted their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. One equities 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 company’s stock. According to data from MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern Trading Down 1.4 %

NSC stock opened at $241.77 on Thursday. 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 stock has a market cap of $54.74 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.31 and a beta of 1.35. The business’s 50-day moving average is $245.60 and its 200 day moving average is $250.77.

Norfolk Southern (NYSE:NSC) last issued its 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%. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders 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 2.23%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy bought 350 shares of the stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the acquisition, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. 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.