Zions Bancorporation N.A. Has $33,000 Stake in Norfolk Southern Co. (NYSE:NSC)

Zions Bancorporation N.A. reduced its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 29.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140 shares of the railroad operator’s stock after selling 58 shares during the quarter. Zions Bancorporation N.A.’s holdings in Norfolk Southern were worth $33,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. TIAA Trust National Association lifted its holdings in Norfolk Southern by 1.2% during the 4th quarter. TIAA Trust National Association now owns 21,410 shares of the railroad operator’s stock valued at $5,025,000 after purchasing an additional 264 shares during the last quarter. Modern Wealth Management LLC increased its holdings in shares of Norfolk Southern by 12.0% during the fourth quarter. Modern Wealth Management LLC now owns 1,086 shares of the railroad operator’s stock worth $275,000 after buying an additional 116 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $542,000. CoreFirst Bank & Trust bought a new stake in Norfolk Southern during the 4th quarter worth approximately $1,147,000. Finally, Prudential Financial Inc. grew its position in Norfolk Southern by 89.6% during the 4th quarter. Prudential Financial Inc. now owns 279,990 shares of the railroad operator’s stock worth $65,714,000 after acquiring an additional 132,328 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NSC has been the topic of a number of recent analyst reports. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a research report on Thursday. Robert W. Baird raised their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Benchmark reiterated a “buy” rating and set a $285.00 target price on shares of Norfolk Southern in a research report on Thursday, January 30th. Finally, Bank of America lowered 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $274.84.

Insider Buying and Selling at Norfolk Southern

In related news, Director Gilbert H. Lamphere purchased 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $235.51 on Friday. 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 market capitalization of $53.33 billion, a P/E ratio of 20.37, a PEG ratio of 2.31 and a beta of 1.35. The business has a 50-day moving average of $245.58 and a 200-day moving average of $249.32. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. On average, equities analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.29%. Norfolk Southern’s dividend payout ratio 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.