Norfolk Southern Co. (NYSE:NSC) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 33.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,246 shares of the railroad operator's stock after purchasing an additional 4,818 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Norfolk Southern were worth $4,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. Atomi Financial Group Inc. acquired a new position in Norfolk Southern during the 3rd quarter worth approximately $214,000. CWM LLC grew its holdings in shares of Norfolk Southern by 17.0% in the 3rd quarter. CWM LLC now owns 8,622 shares of the railroad operator's stock worth $2,142,000 after acquiring an additional 1,254 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Norfolk Southern by 291.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,218 shares of the railroad operator's stock worth $551,000 after acquiring an additional 1,651 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $202,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Norfolk Southern by 11.3% in the 3rd quarter. Ritholtz Wealth Management now owns 6,726 shares of the railroad operator's stock worth $1,671,000 after acquiring an additional 685 shares during the period. Institutional investors and hedge funds own 75.10% of the company's stock.

Insider Buying and Selling

In other news, Director Sameh Fahmy bought 350 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now owns 10,350 shares of the company's stock, valued at $2,580,979.50. This represents a 3.50 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price 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 in the company, valued at $646,271.82. This represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of research reports. Susquehanna lowered their price target on Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Citigroup upped their price target on Norfolk Southern from $302.00 to $316.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Royal Bank of Canada upped their price target on Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Wells Fargo & Company lowered their price target on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, TD Cowen upped their price target on Norfolk Southern from $253.00 to $259.00 and gave the stock a "hold" rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $276.11.

Norfolk Southern Trading Down 1.0 %

Shares of Norfolk Southern stock traded down $2.65 during trading hours on Wednesday, reaching $253.80. 876,492 shares of the company's stock were exchanged, compared to its average volume of 1,197,585. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The firm has a market capitalization of $57.42 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. The company has a fifty day moving average of $245.86 and a 200-day moving average of $250.31. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping analysts' consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Sell-side analysts forecast that Norfolk Southern Co. will post 13.02 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, February 7th. Norfolk Southern's dividend payout ratio (DPR) is currently 46.71%.

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.