Allspring Global Investments Holdings LLC Cuts Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 5.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,734 shares of the railroad operator’s stock after selling 580 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Norfolk Southern were worth $2,518,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Norfolk Southern by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after purchasing an additional 8,844 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Norfolk Southern by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after purchasing an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Norfolk Southern by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after purchasing an additional 3,621 shares during the period. Pathway Financial Advisers LLC increased its position in Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares during the period. Finally, Caprock Group LLC purchased a new position in Norfolk Southern during the 4th quarter valued at about $1,796,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $247.84 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. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The company has a 50 day simple moving average of $245.46 and a two-hundred day simple moving average of $250.66. The stock has a market cap of $56.12 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.30 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data 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%. As a group, analysts predict that Norfolk Southern Co. will post 13.02 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now directly owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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, with a total value of $87,279.50. Following the completion of the purchase, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade 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.

Wall Street Analyst Weigh In

NSC has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Susquehanna cut their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird lifted their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Loop Capital downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and cut their price objective for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price 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.