Independence Bank of Kentucky Grows Stake in Norfolk Southern Co. (NYSE:NSC)

Independence Bank of Kentucky raised its stake in Norfolk Southern Co. (NYSE:NSCFree Report) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,530 shares of the railroad operator’s stock after acquiring an additional 190 shares during the period. Independence Bank of Kentucky’s holdings in Norfolk Southern were worth $834,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Founders Capital Management LLC lifted its holdings in shares of Norfolk Southern by 6.6% during the fourth quarter. Founders Capital Management LLC now owns 1,702 shares of the railroad operator’s stock valued at $402,000 after purchasing an additional 105 shares in the last quarter. FAS Wealth Partners Inc. lifted its holdings in shares of Norfolk Southern by 4.5% during the fourth quarter. FAS Wealth Partners Inc. now owns 1,807 shares of the railroad operator’s stock valued at $427,000 after purchasing an additional 78 shares in the last quarter. apricus wealth LLC bought a new position in Norfolk Southern in the fourth quarter valued at about $275,000. Bridge Creek Capital Management LLC lifted its holdings in Norfolk Southern by 0.9% in the fourth quarter. Bridge Creek Capital Management LLC now owns 10,549 shares of the railroad operator’s stock valued at $2,494,000 after acquiring an additional 95 shares during the period. Finally, Argus Investors Counsel Inc. bought a new position in Norfolk Southern in the fourth quarter valued at about $236,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BMO Capital Markets lowered their target price on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a report on Monday, January 29th. Morgan Stanley downgraded Norfolk Southern from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $185.00 to $175.00 in a research note on Monday, January 29th. TheStreet raised Norfolk Southern from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Sanford C. Bernstein raised Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price objective on the stock in a research note on Monday, January 22nd. Finally, Stifel Nicolaus downgraded Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $250.00 to $233.00 in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.38.

Read Our Latest Stock Report on NSC

Norfolk Southern Stock Performance

NYSE:NSC opened at $251.83 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The stock has a 50-day moving average price of $252.80 and a 200 day moving average price of $227.11. The stock has a market capitalization of $62.00 billion, a P/E ratio of 31.40, a P/E/G ratio of 3.36 and a beta of 1.30.

Norfolk Southern (NYSE:NSCGet Free Report) last released its earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.04). The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.42 EPS. Equities research analysts forecast that Norfolk Southern Co. will post 12.14 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.14%. The ex-dividend date was Thursday, February 1st. Norfolk Southern’s dividend payout ratio is presently 67.33%.

About Norfolk Southern

(Free Report)

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.

See Also

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

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