American Century Companies Inc. Sells 850,971 Shares of Norfolk Southern Corporation $NSC

American Century Companies Inc. lessened its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 28.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,154,815 shares of the railroad operator’s stock after selling 850,971 shares during the period. Norfolk Southern accounts for about 0.3% of American Century Companies Inc.’s portfolio, making the stock its 25th biggest position. American Century Companies Inc. owned about 0.96% of Norfolk Southern worth $647,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. Tritonpoint Wealth LLC increased its holdings in Norfolk Southern by 3.5% in the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock valued at $313,000 after buying an additional 35 shares during the period. Massachusetts Wealth Management increased its stake in shares of Norfolk Southern by 0.6% in the 3rd quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock valued at $1,798,000 after purchasing an additional 35 shares during the last quarter. ORG Partners LLC lifted its position in shares of Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Horan Securities Inc. boosted its stake in Norfolk Southern by 2.1% in the second quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock valued at $452,000 after buying an additional 37 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC grew its position in Norfolk Southern by 1.9% in the third quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator’s stock valued at $603,000 after acquiring an additional 37 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director William Jr. Clyburn purchased 204 shares of the business’s stock in a transaction on Friday, December 5th. The stock was acquired at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the purchase, the director owned 405 shares of the company’s stock, valued at approximately $119,389.95. This trade represents a 101.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Norfolk Southern Trading Up 0.3%

NYSE NSC opened at $314.01 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $319.94. The business has a 50 day moving average price of $297.95 and a 200-day moving average price of $290.42. The company has a market cap of $70.52 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 5.64 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period last year, the business earned $3.04 EPS. Norfolk Southern’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, February 6th. Norfolk Southern’s dividend payout ratio is currently 42.35%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Sanford C. Bernstein dropped their price objective on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. UBS Group downgraded Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price for the company. in a research report on Friday, February 6th. Susquehanna upped their price target on shares of Norfolk Southern from $304.00 to $305.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Robert W. Baird dropped their price target on shares of Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Finally, Wolfe Research boosted their price objective on shares of Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Seven analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $304.47.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.