Aigen Investment Management LP acquired a new position in Norfolk Southern Co. (NYSE:NSC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,875 shares of the railroad operator's stock, valued at approximately $440,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in Norfolk Southern by 2.1% in the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator's stock worth $2,318,716,000 after purchasing an additional 196,249 shares during the period. Geode Capital Management LLC grew its stake in Norfolk Southern by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator's stock worth $1,133,828,000 after acquiring an additional 62,186 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in Norfolk Southern by 2.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator's stock worth $967,340,000 after acquiring an additional 103,281 shares in the last quarter. Mizuho Securities USA LLC grew its stake in Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator's stock worth $819,553,000 after acquiring an additional 3,280,579 shares in the last quarter. Finally, FMR LLC grew its stake in Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator's stock worth $671,532,000 after acquiring an additional 881,415 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of Norfolk Southern 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 acquisition, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gilbert H. Lamphere purchased 607 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now owns 2,487 shares of the company's stock, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts have commented on NSC shares. Benchmark restated a "buy" rating and issued a $285.00 target price on shares of Norfolk Southern in a research note on Thursday, January 30th. Wells Fargo & Company dropped their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Stephens increased their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Robert W. Baird increased their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Finally, Loop Capital downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating and dropped their price objective for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $276.95.
Get Our Latest Research Report on NSC
Norfolk Southern Stock Performance
Shares of NYSE NSC traded up $5.69 during midday trading on Friday, reaching $243.89. The company had a trading volume of 1,221,460 shares, compared to its average volume of 1,158,598. The business's 50-day simple moving average is $246.51 and its 200 day simple moving average is $250.85. The stock has a market cap of $55.22 billion, a P/E ratio of 21.10, a P/E/G ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. 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 (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. On average, analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.
Norfolk Southern Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.21%. Norfolk Southern's dividend payout ratio (DPR) is presently 46.71%.
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.
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