Primecap Management Co. CA Acquires 214,700 Shares of Norfolk Southern Co. (NYSE:NSC)

Primecap Management Co. CA raised its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 46.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 673,200 shares of the railroad operator's stock after acquiring an additional 214,700 shares during the period. Primecap Management Co. CA owned approximately 0.30% of Norfolk Southern worth $158,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock valued at $63,417,000 after acquiring an additional 8,844 shares in the last quarter. Caprock Group LLC acquired a new position in Norfolk Southern in the 4th quarter valued at $1,796,000. Grandview Asset Management LLC acquired a new position in shares of Norfolk Southern during the 4th quarter worth $918,000. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock worth $1,333,000 after buying an additional 128 shares in the last quarter. Finally, Garner Asset Management Corp raised its holdings in shares of Norfolk Southern by 3.2% during the 3rd quarter. Garner Asset Management Corp now owns 3,168 shares of the railroad operator's stock worth $787,000 after buying an additional 97 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NSC. Robert W. Baird boosted their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Susquehanna lowered their price target on Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada boosted 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. JPMorgan Chase & Co. boosted their price objective on Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a research report on Friday, March 7th. They set a "buy" rating and a $293.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $276.63.

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere acquired 607 shares of the stock in a transaction dated 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 directly owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company's stock.

Norfolk Southern Stock Down 0.7 %

NSC stock traded down $1.70 during trading on Friday, reaching $231.84. 1,248,284 shares of the stock were exchanged, compared to its average volume of 1,160,599. The firm's 50 day moving average is $246.04 and its 200 day moving average is $249.85. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. 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 firm has a market cap of $52.50 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted 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%. As a group, research analysts forecast that Norfolk Southern Co. will post 13 EPS for the current 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 paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern's dividend payout ratio (DPR) is presently 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.