Principal Financial Group Inc. trimmed its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 253,289 shares of the railroad operator's stock after selling 1,911 shares during the period. Principal Financial Group Inc. owned about 0.11% of Norfolk Southern worth $59,447,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at approximately $25,000. Financial Life Planners purchased a new position in Norfolk Southern in the fourth quarter valued at $27,000. Keystone Financial Group Inc. acquired a new stake in Norfolk Southern in the fourth quarter valued at $27,000. Morse Asset Management Inc acquired a new stake in Norfolk Southern in the third quarter valued at $30,000. Finally, Coastline Trust Co acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 75.10% of the company's stock.
Insider Buying and Selling
In other news, Director Gilbert H. Lamphere purchased 607 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now directly owns 2,487 shares of the company's stock, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sameh Fahmy acquired 350 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was purchased 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 directly 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 disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.
Norfolk Southern Stock Performance
NSC traded up $0.35 during trading on Thursday, reaching $249.40. The company's stock had a trading volume of 1,208,448 shares, compared to its average volume of 1,209,298. The company has a market capitalization of $56.47 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 2.39 and a beta of 1.35. The company's fifty day moving average price is $245.41 and its 200-day moving average price is $250.61. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. 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 announced its quarterly earnings data 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%. On average, equities analysts forecast that Norfolk Southern Co. will post 13.02 earnings per share for the current fiscal year.
Norfolk Southern Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern's dividend payout ratio (DPR) is 46.71%.
Analyst Upgrades and Downgrades
NSC has been the topic of several research analyst reports. 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 report on Wednesday, October 23rd. Susquehanna cut their price objective 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. Bank of America lifted their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Evercore ISI decreased their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Finally, Stephens raised their price objective on Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $276.11.
View Our Latest Stock Report on Norfolk Southern
Norfolk Southern 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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