Manning & Napier Advisors LLC Has $13.95 Million Stake in Norfolk Southern Co. (NYSE:NSC)

Manning & Napier Advisors LLC decreased its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,446 shares of the railroad operator's stock after selling 4,106 shares during the quarter. Manning & Napier Advisors LLC's holdings in Norfolk Southern were worth $13,952,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of NSC. Highline Wealth Partners LLC acquired a new position in shares of Norfolk Southern during the third quarter valued at $25,000. Morse Asset Management Inc acquired a new stake in Norfolk Southern in the third quarter worth about $30,000. Coastline Trust Co acquired a new stake in Norfolk Southern in the third quarter worth about $32,000. Capital Performance Advisors LLP acquired a new stake in Norfolk Southern in the third quarter worth about $33,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Norfolk Southern in the second quarter worth about $39,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy purchased 350 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the acquisition, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NSC shares. Wells Fargo & Company reduced their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Susquehanna reduced their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Barclays upped their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Stephens boosted 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 report on Thursday. Finally, Benchmark reiterated a "buy" rating and issued a $285.00 price target on shares of Norfolk Southern in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Norfolk Southern has an average rating of "Moderate Buy" and a consensus price target of $277.74.

Norfolk Southern Stock Performance

Norfolk Southern stock traded up $0.76 during trading hours on Thursday, reaching $257.50. 1,415,561 shares of the company were exchanged, compared to its average volume of 1,286,396. The firm has a market cap of $58.26 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.29 and a beta of 1.34. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The stock has a 50-day moving average of $249.36 and a 200 day moving average of $248.69. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. As a group, research analysts anticipate that Norfolk Southern Co. will post 11.78 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.10%. Norfolk Southern's dividend payout ratio (DPR) is presently 50.70%.

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.