Cornerstone Investment Partners LLC decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 179,943 shares of the railroad operator's stock after selling 24,005 shares during the quarter. Norfolk Southern makes up approximately 2.1% of Cornerstone Investment Partners LLC's portfolio, making the stock its 25th biggest position. Cornerstone Investment Partners LLC owned approximately 0.08% of Norfolk Southern worth $42,233,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of 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 buying an additional 8,844 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Norfolk Southern by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator's stock valued at $132,565,000 after acquiring an additional 3,621 shares in the last quarter. Caprock Group LLC acquired a new position in Norfolk Southern in the fourth quarter valued at $1,796,000. Grandview Asset Management LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth about $918,000. Finally, Garner Asset Management Corp lifted its holdings in shares of Norfolk Southern by 3.2% in the 3rd quarter. Garner Asset Management Corp now owns 3,168 shares of the railroad operator's stock valued at $787,000 after purchasing an additional 97 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Norfolk Southern
In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sameh Fahmy bought 350 shares of the company's stock in a transaction on Thursday, December 12th. The shares were acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now directly owns 10,350 shares in the company, valued at $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 owned by corporate insiders.
Norfolk Southern Price Performance
Shares of NSC traded up $5.69 during trading hours on Friday, reaching $243.89. The company had a trading volume of 1,221,460 shares, compared to its average volume of 1,157,376. The company has a market capitalization of $55.22 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The firm has a 50 day simple moving average of $246.33 and a 200-day simple moving average of $250.76. 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 earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current year.
Norfolk Southern Dividend Announcement
The company 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 yield of 2.21%. Norfolk Southern's payout ratio is 46.71%.
Analysts Set New Price Targets
A number of research firms recently issued reports on NSC. Barclays raised their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Susquehanna cut their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Robert W. Baird upped their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a research report on Friday. They set a "buy" rating and a $293.00 price objective on the stock. Finally, Royal Bank of Canada upped their target price on shares of 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 thirteen have given a buy rating to the company. According to MarketBeat.com, Norfolk Southern currently has an average rating of "Moderate Buy" and an average price target of $276.95.
Check Out Our Latest Analysis on NSC
Norfolk Southern Company Profile
(
Free Report)
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.
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