Berkshire Asset Management LLC PA Lowers Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Berkshire Asset Management LLC PA reduced its stake in Norfolk Southern Co. (NYSE:NSC) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 155,748 shares of the railroad operator’s stock after selling 1,271 shares during the period. Norfolk Southern accounts for 1.9% of Berkshire Asset Management LLC PA’s portfolio, making the stock its 16th biggest position. Berkshire Asset Management LLC PA’s holdings in Norfolk Southern were worth $39,664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Life Planners purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $28,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern in the third quarter valued at approximately $30,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 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 completion of the acquisition, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sameh Fahmy acquired 350 shares of the stock in a transaction on Thursday, December 12th. The shares were acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now owns 10,350 shares in the company, valued at $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $239.17 on Friday. The firm has a market capitalization of $54.16 billion, a PE ratio of 20.69, a P/E/G ratio of 2.31 and a beta of 1.35. 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 business has a 50-day moving average of $246.33 and a two-hundred day moving average of $250.76. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC) last announced 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%. As a group, research analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current 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 $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Robert W. Baird boosted their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Citigroup boosted their target price on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Stephens boosted their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and decreased their target price for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price target on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One research 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 MarketBeat.com, the stock currently 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.