Loomis Sayles & Co. L P Decreases Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Loomis Sayles & Co. L P lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 55.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 248 shares of the railroad operator’s stock after selling 310 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Norfolk Southern were worth $58,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. NEOS Investment Management LLC grew its position in Norfolk Southern by 28.7% in the 4th quarter. NEOS Investment Management LLC now owns 11,137 shares of the railroad operator’s stock worth $2,614,000 after purchasing an additional 2,484 shares during the period. UniSuper Management Pty Ltd boosted its stake in shares of Norfolk Southern by 22.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 17,250 shares of the railroad operator’s stock worth $4,049,000 after buying an additional 3,198 shares during the last quarter. Moment Partners LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth $361,000. WINTON GROUP Ltd purchased a new stake in Norfolk Southern during the fourth quarter valued at $224,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Norfolk Southern by 9.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 362,888 shares of the railroad operator’s stock valued at $85,598,000 after acquiring an additional 31,468 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

NSC stock opened at $230.41 on Monday. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The firm has a market capitalization of $52.17 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The company has a fifty day simple moving average of $245.28 and a two-hundred day simple moving average of $249.05. 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 (NYSE:NSC) last released its quarterly earnings results 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%. Analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insider Buying and Selling

In other news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NSC. Bank of America decreased their target price on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Susquehanna cut their price objective on Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday. Stephens raised their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada lifted their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $274.84.

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.