Hartford Investment Management Co. Has $3.28 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Hartford Investment Management Co. lowered its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,993 shares of the railroad operator’s stock after selling 235 shares during the period. Hartford Investment Management Co.’s holdings in Norfolk Southern were worth $3,284,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NSC. State Street Corp increased its holdings in Norfolk Southern by 2.1% in the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock worth $2,318,716,000 after purchasing an additional 196,249 shares in the last quarter. Geode Capital Management LLC grew its position 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 valued at $1,133,828,000 after buying an additional 62,186 shares during the last quarter. EdgePoint Investment Group Inc. boosted 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 valued at $967,340,000 after purchasing an additional 103,281 shares in the last quarter. Mizuho Securities USA LLC boosted its position in shares of Norfolk Southern by 18,831.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after purchasing an additional 3,280,579 shares in the last quarter. Finally, FMR LLC raised its stake in Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after buying an additional 881,415 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 1.0 %

NYSE NSC opened at $253.80 on Thursday. The company has a market capitalization of $57.42 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 2.32 and a beta of 1.35. The stock’s 50-day simple moving average is $245.86 and its two-hundred day simple moving average is $250.31. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS 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%. Research analysts forecast that Norfolk Southern Co. will post 13.02 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.13%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NSC. Susquehanna lowered their price objective on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird increased their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. UBS Group increased their price objective on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. TD Cowen raised their price target on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.11.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the purchase, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.