Canada Pension Plan Investment Board Acquires 10,477 Shares of Norfolk Southern Co. (NYSE:NSC)

Canada Pension Plan Investment Board grew its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,123 shares of the railroad operator's stock after buying an additional 10,477 shares during the period. Canada Pension Plan Investment Board owned approximately 0.05% of Norfolk Southern worth $28,428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in NSC. Financial Life Planners purchased a new stake in Norfolk Southern in the fourth quarter worth approximately $27,000. Keystone Financial Group Inc. purchased a new position in Norfolk Southern in the 4th quarter worth approximately $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $27,000. Morse Asset Management Inc purchased a new stake in Norfolk Southern during the 3rd quarter valued at $30,000. Finally, Vision Financial Markets LLC bought a new stake in Norfolk Southern in the 4th quarter worth $28,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Insider Buying and Selling

In other news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock traded up $4.75 during trading hours on Thursday, reaching $226.70. 1,716,664 shares of the stock traded hands, compared to its average volume of 1,262,602. The company has a 50 day moving average price of $231.67 and a 200 day moving average price of $245.20. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $55.89 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.03). The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, equities research analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.38%. Norfolk Southern's dividend payout ratio (DPR) is presently 46.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NSC shares. Barclays reduced their target price on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Evercore ISI cut their price objective on Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating on the stock in a research report on Thursday. Loop Capital cut Norfolk Southern from a "buy" rating to a "hold" rating and lowered their target price for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. UBS Group dropped their target price on shares of Norfolk Southern from $284.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Stifel Nicolaus cut their price objective on shares of Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $266.10.

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.