Kentucky Retirement Systems Cuts Stock Position in Norfolk Southern Co. (NYSE:NSC)

Kentucky Retirement Systems lessened its position in Norfolk Southern Co. (NYSE:NSC) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,154 shares of the railroad operator’s stock after selling 939 shares during the quarter. Kentucky Retirement Systems’ holdings in Norfolk Southern were worth $4,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NSC. Cedar Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the 1st quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Norfolk Southern during the 4th quarter worth about $32,000. Financial Connections Group Inc. purchased a new stake in Norfolk Southern during the 4th quarter worth about $34,000. Rise Advisors LLC purchased a new stake in Norfolk Southern during the 1st quarter worth about $34,000. Finally, Transcendent Capital Group LLC purchased a new stake in Norfolk Southern during the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Sanford C. Bernstein cut their price target on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Benchmark restated a “buy” rating and set a $277.00 price target on shares of Norfolk Southern in a report on Thursday, April 25th. Barclays cut their price target on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. Susquehanna upped their price target on Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Loop Capital upped their price objective on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $264.65.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $219.25 per share, with a total value of $438,500.00. Following the purchase, the director now owns 7,000 shares in the company, valued at approximately $1,534,750. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Norfolk Southern Stock Performance

Shares of NYSE NSC traded up $24.32 during trading hours on Friday, reaching $247.22. The stock had a trading volume of 2,993,456 shares, compared to its average volume of 1,060,314. The firm has a market cap of $55.85 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 2.44 and a beta of 1.32. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The firm has a 50-day moving average of $222.63 and a 200-day moving average of $237.55.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a return on equity of 19.77% and a net margin of 14.85%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. Equities research analysts predict that Norfolk Southern Co. will post 11.6 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, August 2nd. Norfolk Southern’s dividend payout ratio is presently 86.96%.

About Norfolk Southern

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.