Capital Group Private Client Services Inc. Trims Holdings in Norfolk Southern Co. (NYSE:NSC)

Capital Group Private Client Services Inc. lessened its stake in Norfolk Southern Co. (NYSE:NSC) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 30,537 shares of the railroad operator’s stock after selling 1,050 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Norfolk Southern were worth $7,167,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Capital International Investors increased its position in shares of Norfolk Southern by 3.1% in the 4th quarter. Capital International Investors now owns 131,427 shares of the railroad operator’s stock worth $30,781,000 after purchasing an additional 3,913 shares during the last quarter. Capital International Sarl grew its stake in Norfolk Southern by 7.5% in the fourth quarter. Capital International Sarl now owns 3,149 shares of the railroad operator’s stock worth $739,000 after purchasing an additional 221 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Norfolk Southern by 3.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 205,091 shares of the railroad operator’s stock valued at $48,164,000 after buying an additional 7,617 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Norfolk Southern by 9.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 121,123 shares of the railroad operator’s stock valued at $28,428,000 after buying an additional 10,477 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL lifted its holdings in Norfolk Southern by 16.9% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator’s stock worth $71,000 after buying an additional 44 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gilbert H. Lamphere acquired 607 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NSC. JPMorgan Chase & Co. upped their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Bank of America decreased 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, March 25th. Barclays dropped their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Susquehanna lowered their target price on Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Finally, Loop Capital downgraded 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. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $268.79.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $219.99 on Friday. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average of $233.78 and a two-hundred day moving average of $245.74. The company has a market capitalization of $54.24 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.31 and a beta of 1.30.

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 analysts’ consensus estimates 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, analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

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

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.