Cbre Investment Management Listed Real Assets LLC bought a new position in Norfolk Southern Co. (NYSE:NSC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 322,202 shares of the railroad operator's stock, valued at approximately $75,621,000. Norfolk Southern accounts for 1.3% of Cbre Investment Management Listed Real Assets LLC's investment portfolio, making the stock its 24th biggest position. Cbre Investment Management Listed Real Assets LLC owned about 0.14% of Norfolk Southern at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Life Planners purchased a new position in Norfolk Southern during the 4th quarter valued at $27,000. Keystone Financial Group Inc. purchased a new position in Norfolk Southern during the 4th quarter valued at $27,000. Bank of Jackson Hole Trust purchased a new position in Norfolk Southern during the 4th quarter valued at $27,000. Morse Asset Management Inc purchased a new position in Norfolk Southern during the 3rd quarter valued at $30,000. Finally, Coastline Trust Co purchased a new position in Norfolk Southern during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 75.10% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Susquehanna decreased their target price on Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada lifted their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Loop Capital lowered Norfolk Southern from a "buy" rating to a "hold" rating and decreased their target price for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of "Moderate Buy" and an average price target of $276.95.
Get Our Latest Stock Analysis on Norfolk Southern
Insider Buying and Selling at Norfolk Southern
In related news, Director Sameh Fahmy bought 350 shares of the stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares of the company's stock, valued at $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now directly owns 2,487 shares of the company's stock, valued at approximately $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company's stock.
Norfolk Southern Stock Up 2.4 %
NYSE:NSC traded up $5.69 during mid-day trading on Friday, hitting $243.89. 1,221,460 shares of the company's stock traded hands, compared to its average volume of 1,157,493. The company has a fifty day moving average of $246.51 and a 200 day moving average of $250.78. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a market capitalization 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. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90.
Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, analysts forecast that Norfolk Southern Co. will post 13 EPS for the current year.
Norfolk Southern Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.21%. Norfolk Southern's payout ratio 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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