Crossmark Global Holdings Inc. Sells 2,397 Shares of Norfolk Southern Corp. (NYSE:NSC)

Crossmark Global Holdings Inc. lowered its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,496 shares of the railroad operator’s stock after selling 2,397 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Norfolk Southern were worth $4,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NSC. State Street Corp boosted its position in Norfolk Southern by 6.3% during the fourth quarter. State Street Corp now owns 11,721,095 shares of the railroad operator’s stock valued at $2,275,416,000 after acquiring an additional 692,117 shares during the last quarter. Artemis Investment Management LLP boosted its position in Norfolk Southern by 582.7% during the fourth quarter. Artemis Investment Management LLP now owns 527,530 shares of the railroad operator’s stock valued at $102,328,000 after acquiring an additional 450,264 shares during the last quarter. Fisher Asset Management LLC boosted its position in Norfolk Southern by 5,312.9% during the third quarter. Fisher Asset Management LLC now owns 348,863 shares of the railroad operator’s stock valued at $62,677,000 after acquiring an additional 342,418 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Norfolk Southern by 7,767.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 310,053 shares of the railroad operator’s stock valued at $60,191,000 after acquiring an additional 306,112 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Norfolk Southern by 230.6% during the third quarter. First Trust Advisors LP now owns 322,665 shares of the railroad operator’s stock valued at $57,970,000 after acquiring an additional 225,069 shares during the last quarter. 71.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE NSC opened at $209.35 on Friday. The firm’s 50-day moving average price is $203.89 and its 200-day moving average price is $188.61. Norfolk Southern Corp. has a 1-year low of $166.57 and a 1-year high of $219.88. The firm has a market capitalization of $54.27 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.93 and a beta of 1.34. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 0.78.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.27. Norfolk Southern had a net margin of 24.10% and a return on equity of 18.04%. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the business earned $2.57 earnings per share. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. Equities research analysts forecast that Norfolk Southern Corp. will post 11.16 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 7th will be issued a $0.94 dividend. The ex-dividend date is Thursday, February 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.80%. Norfolk Southern’s dividend payout ratio is presently 36.36%.

In related news, VP Jason Andrew Zampi sold 1,270 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $212.45, for a total value of $269,811.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Michael Joseph Wheeler sold 11,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $212.84, for a total transaction of $2,341,240.00. Following the completion of the sale, the chief operating officer now owns 27,035 shares in the company, valued at approximately $5,754,129.40. The disclosure for this sale can be found here. Insiders sold a total of 14,724 shares of company stock worth $3,125,979 in the last 90 days. 0.19% of the stock is currently owned by company insiders.

A number of analysts have commented on the stock. Benchmark assumed coverage on shares of Norfolk Southern in a research report on Thursday, January 30th. They set a “hold” rating on the stock. Argus reiterated a “buy” rating and set a $235.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Wells Fargo & Co upped their price objective on shares of Norfolk Southern from $230.00 to $237.00 and gave the company a “positive” rating in a report on Thursday, January 30th. Stephens upped their price objective on shares of Norfolk Southern from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Cfra reiterated a “hold” rating and set a $225.00 price objective on shares of Norfolk Southern in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $215.05.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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