Cibc World Markets Corp Has $8.38 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

Cibc World Markets Corp lifted its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 35,689 shares of the railroad operator's stock after buying an additional 5,035 shares during the quarter. Cibc World Markets Corp's holdings in Norfolk Southern were worth $8,376,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Norfolk Southern by 3.6% during the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock valued at $63,417,000 after purchasing an additional 8,844 shares during the last quarter. Caprock Group LLC bought a new position in Norfolk Southern during the 4th quarter worth $1,796,000. Grandview Asset Management LLC bought a new stake in Norfolk Southern in the fourth quarter valued at $918,000. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Norfolk Southern by 2.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock valued at $1,333,000 after acquiring an additional 128 shares during the period. Finally, Garner Asset Management Corp grew its position in shares of Norfolk Southern by 3.2% during the third quarter. Garner Asset Management Corp now owns 3,168 shares of the railroad operator's stock worth $787,000 after acquiring an additional 97 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Down 0.7 %

NSC stock traded down $1.70 during mid-day trading on Friday, reaching $231.84. 1,248,284 shares of the stock traded hands, compared to its average volume of 1,160,599. The stock's fifty day moving average is $246.04 and its 200-day moving average is $249.85. The company has a market cap of $52.50 billion, a P/E ratio of 20.06, a P/E/G ratio of 2.31 and a beta of 1.35. 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 Co. has a 52-week low of $206.71 and a 52-week high of $277.60.

Remove Ads

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 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%. As a group, sell-side analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.33%. The ex-dividend date was Friday, February 7th. Norfolk Southern's dividend payout ratio is currently 46.71%.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere bought 607 shares of the firm's stock in a transaction on Friday, January 31st. The stock was bought at an average price of $259.86 per share, with a total value 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. This represents a 32.29 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a "buy" rating and a $293.00 price objective on the stock. Stephens boosted their price objective on Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Wells Fargo & Company lowered their target price on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Benchmark reiterated a "buy" rating and set a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Finally, Royal Bank of Canada raised their price target on Norfolk Southern from $275.00 to $286.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Norfolk Southern presently has an average rating of "Moderate Buy" and a consensus target price of $276.63.

Norfolk Southern Company Profile

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.