Magellan Asset Management Ltd Has $178.76 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Magellan Asset Management Ltd lessened its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 761,645 shares of the railroad operator's stock after selling 25,437 shares during the quarter. Norfolk Southern makes up approximately 2.0% of Magellan Asset Management Ltd's portfolio, making the stock its 24th largest holding. Magellan Asset Management Ltd owned 0.34% of Norfolk Southern worth $178,758,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in shares of Norfolk Southern by 3.6% in the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock worth $63,417,000 after acquiring an additional 8,844 shares during the last quarter. Geode Capital Management LLC grew its position in Norfolk Southern by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock worth $1,098,472,000 after purchasing an additional 113,648 shares during the last quarter. Caprock Group LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth about $1,796,000. Grandview Asset Management LLC acquired a new position in shares of Norfolk Southern during the fourth quarter valued at about $918,000. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in shares of Norfolk Southern by 2.3% in 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 buying an additional 128 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the firm's stock in a transaction on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company's stock.

Norfolk Southern Trading Up 1.8 %

Norfolk Southern stock traded up $3.72 during mid-day trading on Tuesday, hitting $211.77. The stock had a trading volume of 414,886 shares, compared to its average volume of 1,227,745. The stock has a 50-day simple moving average of $241.91 and a two-hundred day simple moving average of $248.04. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $52.21 billion, a PE ratio of 18.28, a P/E/G ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a 12 month low of $201.63 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued 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 net margin of 21.63% and a return on equity of 20.04%. As a group, sell-side analysts forecast that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern's payout ratio is 46.71%.

Analyst Upgrades and Downgrades

NSC has been the subject of several recent research reports. Robert W. Baird upped their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Loop Capital downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating and decreased their price target for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. Benchmark reaffirmed a "buy" rating and set a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Barclays dropped their price target on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a report on Friday, March 7th. They set a "buy" rating and a $293.00 price objective on the stock. One 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. According to data from MarketBeat, Norfolk Southern presently has an average rating of "Moderate Buy" and an average price target of $272.74.

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.