CIBC Asset Management Inc Buys 997 Shares of Norfolk Southern Co. (NYSE:NSC)

CIBC Asset Management Inc increased its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,743 shares of the railroad operator's stock after buying an additional 997 shares during the quarter. CIBC Asset Management Inc's holdings in Norfolk Southern were worth $10,501,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern in the third quarter worth approximately $25,000. Financial Life Planners acquired a new stake in Norfolk Southern in the fourth quarter worth approximately $27,000. Keystone Financial Group Inc. acquired a new stake in shares of Norfolk Southern during the 4th quarter valued at $27,000. Morse Asset Management Inc acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at $30,000. Finally, Coastline Trust Co acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NSC shares. Citigroup increased their price objective on Norfolk Southern from $302.00 to $316.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Stephens increased their target price on Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Wells Fargo & Company reduced their target price on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Finally, Royal Bank of Canada increased their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $276.11.

Insider Buying and Selling

In other news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now directly owns 2,487 shares of the company's stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sameh Fahmy purchased 350 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the purchase, the director now owns 10,350 shares of the company's stock, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Trading Down 0.6 %

NSC traded down $1.57 during trading on Friday, reaching $247.84. 1,493,699 shares of the company's stock were exchanged, compared to its average volume of 1,217,662. The firm has a market capitalization of $56.12 billion, a PE ratio of 21.44, a P/E/G ratio of 2.30 and a beta of 1.35. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The company's fifty day moving average price is $245.43 and its 200-day moving average price is $250.60. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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%. As a group, equities analysts forecast that Norfolk Southern Co. will post 13.02 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.18%. Norfolk Southern's payout ratio is presently 46.71%.

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.