Korea Investment CORP Acquires 62,681 Shares of Norfolk Southern Co. (NYSE:NSC)

Korea Investment CORP lifted its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 81.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,881 shares of the railroad operator's stock after purchasing an additional 62,681 shares during the period. Korea Investment CORP owned 0.06% of Norfolk Southern worth $32,830,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NSC. Financial Life Planners bought a new stake in Norfolk Southern during the 4th quarter valued at approximately $27,000. Keystone Financial Group Inc. purchased a new stake in Norfolk Southern in the fourth quarter worth $27,000. Bank of Jackson Hole Trust bought a new position in Norfolk Southern in the fourth quarter worth $27,000. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth about $30,000. Finally, Vision Financial Markets LLC purchased a new position in Norfolk Southern during the 4th quarter valued at about $28,000. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

Shares of NSC stock traded up $0.82 on Wednesday, hitting $237.43. 172,780 shares of the stock traded hands, compared to its average volume of 1,209,430. The firm has a market cap of $53.76 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $244.81 and a two-hundred day simple moving average of $248.86. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60.

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

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern's payout ratio is currently 46.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NSC. Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a research report on Friday, March 7th. They issued a "buy" rating and a $293.00 price target on the stock. Royal Bank of Canada raised their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Bank of America lowered their price target on Norfolk Southern from $292.00 to $272.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Stephens increased their price objective on Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Finally, Robert W. Baird boosted their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research 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.com, Norfolk Southern has a consensus rating of "Moderate Buy" and a consensus target price of $272.74.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares of the company's stock, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company's stock.

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.