Kentucky Retirement Systems Insurance Trust Fund Boosts Holdings in Norfolk Southern Co. (NYSE:NSC)

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 63.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,939 shares of the railroad operator's stock after purchasing an additional 4,245 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Norfolk Southern were worth $2,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mizuho Securities USA LLC raised its position in Norfolk Southern by 18,831.2% in the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator's stock worth $819,553,000 after acquiring an additional 3,280,579 shares during the period. Pathway Financial Advisers LLC grew its holdings in Norfolk Southern by 25,181.8% during the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator's stock valued at $222,025,000 after purchasing an additional 889,925 shares during the period. FMR LLC grew its stake in shares of Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator's stock valued at $671,532,000 after acquiring an additional 881,415 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in Norfolk Southern in the 3rd quarter worth approximately $207,830,000. Finally, Holocene Advisors LP bought a new stake in Norfolk Southern during the 3rd quarter worth approximately $122,798,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upped their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Stephens increased their price target on Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Wells Fargo & Company decreased 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. Robert W. Baird increased their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, Barclays boosted their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. One equities research 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.11.

Norfolk Southern Trading Down 0.6 %

Shares of NSC stock traded down $1.57 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 company's fifty day simple moving average is $245.46 and its 200 day simple moving average is $250.66. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week 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 stock 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 (NYSE:NSC - Get Free Report) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping analysts' consensus estimates 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, 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. Investors of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.18%. Norfolk Southern's dividend payout ratio (DPR) is 46.71%.

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy purchased 350 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now 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 SEC, which is accessible through this link. Also, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the acquisition, 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 disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

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.