Simmons Bank Sells 60 Shares of Norfolk Southern Co. (NYSE:NSC)

Simmons Bank decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NSC. Allspring Global Investments Holdings LLC increased its stake in Norfolk Southern by 4.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 11,314 shares of the railroad operator’s stock worth $2,812,000 after purchasing an additional 511 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Norfolk Southern by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after purchasing an additional 2,453 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Norfolk Southern by 3.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 44,763 shares of the railroad operator’s stock worth $11,123,000 after purchasing an additional 1,529 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Norfolk Southern by 11.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 79,305 shares of the railroad operator’s stock worth $19,468,000 after purchasing an additional 8,249 shares during the period. Finally, Pallas Capital Advisors LLC increased its stake in Norfolk Southern by 17.3% in the third quarter. Pallas Capital Advisors LLC now owns 1,162 shares of the railroad operator’s stock worth $294,000 after purchasing an additional 171 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup raised 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. Benchmark restated a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Susquehanna decreased their price objective on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company decreased their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Robert W. Baird lifted their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. One 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern Stock Down 1.4 %

Norfolk Southern stock opened at $241.77 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The stock has a market capitalization of $54.74 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The business has a fifty day moving average price of $245.60 and a 200-day moving average price of $250.77.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data 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 return on equity of 20.04% and a net margin of 21.63%. Equities research analysts forecast that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.23%. Norfolk Southern’s payout ratio is 46.71%.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern 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 directly 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 disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

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.