Raymond James Financial Inc. Invests $105.23 Million in Norfolk Southern Co. (NYSE:NSC)

Raymond James Financial Inc. bought a new stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 448,336 shares of the railroad operator's stock, valued at approximately $105,225,000. Raymond James Financial Inc. owned 0.20% of Norfolk Southern at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NSC. Financial Life Planners bought a new stake in Norfolk Southern during the fourth quarter worth approximately $27,000. Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern in the 4th quarter worth $27,000. Bank of Jackson Hole Trust acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at $27,000. Vision Financial Markets LLC bought a new position in Norfolk Southern during the fourth quarter valued at about $28,000. Finally, Morse Asset Management Inc acquired a new position in Norfolk Southern during the third quarter worth about $30,000. 75.10% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Gilbert H. Lamphere bought 607 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sameh Fahmy purchased 350 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were purchased 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 of the company's stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

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Norfolk Southern Stock Down 0.9 %

Shares of Norfolk Southern stock traded down $2.07 during midday trading on Wednesday, reaching $230.91. 1,485,454 shares of the company's stock traded hands, compared to its average volume of 1,164,931. The company has a market cap 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. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The company's 50 day simple moving average is $246.59 and its 200 day simple moving average is $250.88. 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 results 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%. Equities analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.34%. Norfolk Southern's dividend payout ratio (DPR) is presently 46.71%.

Analyst Ratings Changes

NSC has been the topic of several recent research reports. Barclays lifted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Wells Fargo & Company cut their price objective on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Susquehanna decreased their target price on Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Finally, Royal Bank of Canada boosted their target price on Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $276.95.

Norfolk Southern 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.