Norfolk Southern Co. (NYSE:NSC) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lessened its stake in Norfolk Southern Co. (NYSE:NSC) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,304 shares of the railroad operator’s stock after selling 86 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Norfolk Southern were worth $541,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Morse Asset Management Inc acquired a new stake in shares of Norfolk Southern during the third quarter worth approximately $30,000. Wealthquest Corp acquired a new position in Norfolk Southern during the 3rd quarter worth $216,000. Anchor Investment Management LLC increased its position in shares of Norfolk Southern by 1.2% in the 3rd quarter. Anchor Investment Management LLC now owns 14,265 shares of the railroad operator’s stock worth $3,545,000 after purchasing an additional 170 shares during the last quarter. World Investment Advisors LLC raised its stake in shares of Norfolk Southern by 10.7% in the 3rd quarter. World Investment Advisors LLC now owns 11,226 shares of the railroad operator’s stock valued at $2,790,000 after purchasing an additional 1,089 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of Norfolk Southern by 23.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 56,256 shares of the railroad operator’s stock worth $13,980,000 after purchasing an additional 10,593 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NSC shares. Jefferies Financial Group reduced their target price on Norfolk Southern from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Barclays decreased their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Stephens increased their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Wells Fargo & Company decreased their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a research note on Friday, March 7th. They set a “buy” rating and a $293.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and an average price target of $268.79.

Norfolk Southern Stock Up 2.8 %

NSC stock opened at $219.99 on Friday. The business’s 50 day simple moving average is $233.78 and its 200 day simple moving average is $245.74. Norfolk Southern Co. has a 1-year low of $201.63 and a 1-year high of $277.60. The firm has a market capitalization of $54.24 billion, a PE ratio of 19.03, a PEG ratio of 2.31 and a beta of 1.30. 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 (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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%. As a group, research analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.45%. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

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.