Norfolk Southern Co. (NYSE:NSC) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,200 shares of the railroad operator's stock after buying an additional 8,844 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Norfolk Southern worth $63,417,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in Norfolk Southern in the 3rd quarter worth approximately $25,000. Morse Asset Management Inc purchased a new position in Norfolk Southern during the third quarter worth approximately $30,000. Financial Connections Group Inc. purchased a new stake in Norfolk Southern in the 2nd quarter valued at $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern in the 2nd quarter worth $31,000. Finally, Coastline Trust Co purchased a new position in shares of Norfolk Southern during the 3rd quarter worth $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Sameh Fahmy bought 350 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now owns 10,350 shares of the company's stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company's stock.

Norfolk Southern Stock Up 1.5 %

Shares of NYSE NSC traded up $3.55 during mid-day trading on Friday, hitting $234.15. The company had a trading volume of 2,698,448 shares, compared to its average volume of 1,256,505. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a market capitalization of $52.97 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The business's 50-day simple moving average is $258.36 and its 200 day simple moving average is $244.19.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter last year, the company earned $2.65 earnings per share. The firm's revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were paid a $1.35 dividend. The ex-dividend date was Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.31%. Norfolk Southern's dividend payout ratio is presently 50.70%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Stephens restated an "equal weight" rating and set a $263.00 price objective on shares of Norfolk Southern in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Susquehanna upped their price objective on Norfolk Southern from $280.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. UBS Group raised their target price on Norfolk Southern from $289.00 to $309.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI decreased their price target on Norfolk Southern from $276.00 to $274.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $275.68.

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.