Principal Financial Group Inc. Trims Stock Position in Norfolk Southern Co. (NYSE:NSC)

Principal Financial Group Inc. decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 0.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 253,289 shares of the railroad operator’s stock after selling 1,911 shares during the period. Principal Financial Group Inc.’s holdings in Norfolk Southern were worth $59,447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NSC. Hoge Financial Services LLC purchased a new stake in Norfolk Southern in the fourth quarter valued at approximately $238,000. J.W. Cole Advisors Inc. grew its stake in shares of Norfolk Southern by 5.3% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,824 shares of the railroad operator’s stock valued at $897,000 after buying an additional 194 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Norfolk Southern during the 4th quarter worth $8,263,000. Principal Securities Inc. raised its position in shares of Norfolk Southern by 12.3% in the 4th quarter. Principal Securities Inc. now owns 3,215 shares of the railroad operator’s stock worth $755,000 after buying an additional 351 shares during the period. Finally, bLong Financial LLC acquired a new position in Norfolk Southern in the fourth quarter valued at $235,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Norfolk Southern Stock Down 3.7 %

NYSE:NSC opened at $248.96 on Thursday. The firm has a market capitalization of $56.37 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 2.37 and a beta of 1.35. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. 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 stock has a 50 day moving average of $245.41 and a 200-day moving average of $250.61.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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 predict that Norfolk Southern Co. will post 13.02 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Evercore ISI cut their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Stephens raised their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. UBS Group boosted their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised 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. Finally, Bank of America upped their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $276.11.

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.