First Trust Advisors LP Buys 13,347 Shares of Norfolk Southern Co. (NYSE:NSC)

First Trust Advisors LP grew its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,830 shares of the railroad operator's stock after acquiring an additional 13,347 shares during the quarter. First Trust Advisors LP owned 0.10% of Norfolk Southern worth $51,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its position 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 worth $63,417,000 after purchasing an additional 8,844 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Norfolk Southern by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock worth $1,098,472,000 after acquiring an additional 113,648 shares in the last quarter. Caprock Group LLC acquired a new position in Norfolk Southern in the fourth quarter valued at about $1,796,000. Grandview Asset Management LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $918,000. Finally, Dorsey & Whitney Trust CO LLC raised its position 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 worth $1,333,000 after purchasing an additional 128 shares during the period. Institutional investors own 75.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NSC. Citigroup lowered their target price on Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Barclays reduced their target price on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Stifel Nicolaus cut their price target on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Stephens raised their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $266.10.

Norfolk Southern Stock Performance

Shares of NSC traded down $5.03 during midday trading on Friday, reaching $221.65. 1,306,890 shares of the stock were exchanged, compared to its average volume of 1,255,479. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month high of $277.60. The company has a market cap of $54.65 billion, a P/E ratio of 19.17, a PEG ratio of 2.31 and a beta of 1.30. The stock's 50 day simple moving average is $230.35 and its 200 day simple moving average is $244.93. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

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 analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. On average, sell-side analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, May 2nd. Norfolk Southern's payout ratio is presently 46.71%.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the business's stock in a transaction on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the purchase, the director now directly owns 2,487 shares of the company's stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Norfolk Southern 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.