KLP Kapitalforvaltning AS Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

KLP Kapitalforvaltning AS acquired a new stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 75,813 shares of the railroad operator's stock, valued at approximately $17,793,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSC. Umpqua Bank raised its stake in shares of Norfolk Southern by 10.8% in the 4th quarter. Umpqua Bank now owns 5,150 shares of the railroad operator's stock worth $1,232,000 after buying an additional 501 shares in the last quarter. Plancorp LLC raised its position in Norfolk Southern by 21.6% in the fourth quarter. Plancorp LLC now owns 1,584 shares of the railroad operator's stock worth $372,000 after acquiring an additional 281 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in Norfolk Southern by 46.3% in the 4th quarter. Mizuho Securities USA LLC now owns 21,442 shares of the railroad operator's stock valued at $5,032,000 after acquiring an additional 6,781 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Norfolk Southern during the 4th quarter valued at about $11,299,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Norfolk Southern in the 4th quarter worth approximately $794,000. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Down 2.0 %

Shares of NYSE NSC traded down $4.80 during trading hours on Friday, hitting $230.41. The stock had a trading volume of 835,254 shares, compared to its average volume of 1,210,036. The firm's 50-day moving average price is $245.28 and its two-hundred day moving average price is $249.14. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The company has a market capitalization of $52.17 billion, a P/E ratio of 19.93, 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.

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Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.34%. Norfolk Southern's dividend payout ratio is currently 46.71%.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere acquired 607 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Loop Capital cut shares of Norfolk Southern from a "buy" rating to a "hold" rating and reduced their target price for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Royal Bank of Canada boosted their target price on Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a research report on Friday, March 7th. They issued a "buy" rating and a $293.00 price target for the company. Susquehanna cut their price objective on Norfolk Southern from $265.00 to $260.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Stephens raised their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" 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 given a buy rating to the company. According to data from MarketBeat, Norfolk Southern has a consensus rating of "Moderate Buy" and a consensus target price of $274.84.

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.