BI Asset Management Fondsmaeglerselskab A S Sells 20,196 Shares of Norfolk Southern Co. (NYSE:NSC)

BI Asset Management Fondsmaeglerselskab A S decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 79.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,336 shares of the railroad operator's stock after selling 20,196 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Norfolk Southern were worth $1,261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Norfolk Southern during the 4th quarter worth about $2,933,000. BKM Wealth Management LLC acquired a new position in Norfolk Southern during the 4th quarter worth about $1,444,000. Pathstone Family Office LLC lifted its position in Norfolk Southern by 200.1% during the 3rd quarter. Pathstone Family Office LLC now owns 16,077 shares of the railroad operator's stock worth $3,198,000 after buying an additional 10,719 shares in the last quarter. ClearBridge Investments Ltd acquired a new position in Norfolk Southern during the 3rd quarter worth about $34,973,000. Finally, Cerity Partners LLC lifted its position in Norfolk Southern by 37.1% during the 4th quarter. Cerity Partners LLC now owns 150,998 shares of the railroad operator's stock worth $35,692,000 after buying an additional 40,861 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Analysts Set New Price Targets

NSC has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of Norfolk Southern in a research report on Monday, April 8th. They set a "buy" rating and a $300.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a "hold" rating in a research report on Friday, April 12th. UBS Group cut their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Royal Bank of Canada restated a "sector perform" rating and set a $270.00 target price on shares of Norfolk Southern in a research report on Wednesday, April 10th. Finally, TD Cowen upped their target price on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a "market perform" rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $261.78.

Insider Transactions at Norfolk Southern

In other news, CMO Claude E. Elkins sold 8,329 shares of the firm's stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company's stock.

Norfolk Southern Stock Up 2.6 %

NYSE NSC traded up $5.91 during trading hours on Wednesday, reaching $230.62. 1,776,766 shares of the company's stock were exchanged, compared to its average volume of 1,377,175. The company's 50-day moving average is $242.78 and its two-hundred day moving average is $237.16. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. The company has a market capitalization of $52.10 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 3.16 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the company posted $3.32 earnings per share. Norfolk Southern's revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts forecast that Norfolk Southern Co. will post 11.88 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.34%. Norfolk Southern's dividend payout ratio is currently 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.