OFI Invest Asset Management Buys Shares of 2,052 Norfolk Southern Co. (NYSE:NSC)

OFI Invest Asset Management bought a new position in Norfolk Southern Co. (NYSE:NSC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,052 shares of the railroad operator's stock, valued at approximately $465,000.

A number of other institutional investors have also modified their holdings of NSC. Amundi grew its position in shares of Norfolk Southern by 56.4% in the 4th quarter. Amundi now owns 1,302,635 shares of the railroad operator's stock worth $308,607,000 after acquiring an additional 469,558 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position 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 valued at $1,333,000 after buying an additional 128 shares during the last quarter. Camden National Bank raised its stake in Norfolk Southern by 18.4% during the fourth quarter. Camden National Bank now owns 1,338 shares of the railroad operator's stock worth $314,000 after acquiring an additional 208 shares during the period. Oak Hill Wealth Advisors LLC lifted its holdings in Norfolk Southern by 220.1% in the fourth quarter. Oak Hill Wealth Advisors LLC now owns 4,761 shares of the railroad operator's stock worth $1,117,000 after acquiring an additional 8,725 shares during the last quarter. Finally, EFG Asset Management Americas Corp. raised its position in shares of Norfolk Southern by 2.4% during the 4th quarter. EFG Asset Management Americas Corp. now owns 7,798 shares of the railroad operator's stock worth $1,830,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 75.10% of the company's stock.

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Norfolk Southern Trading Down 0.9 %

Shares of Norfolk Southern stock traded down $2.07 on Wednesday, reaching $230.91. 1,893,247 shares of the company were exchanged, compared to its average volume of 1,166,367. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The firm has a market capitalization of $52.28 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. 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 fifty day moving average price of $246.51 and a 200-day moving average price of $250.74.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts expect that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed 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. This represents a $5.40 annualized dividend and a yield of 2.34%. The ex-dividend date was Friday, February 7th. Norfolk Southern's payout ratio is 46.71%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. The trade was a 3.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares of the company's stock, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Benchmark restated a "buy" rating and set a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday, January 30th. 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. Barclays upped their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a report on Friday, March 7th. They issued a "buy" rating and a $293.00 price objective for the company. Finally, 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 research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $276.95.

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.