Royal London Asset Management Ltd. lifted its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,824 shares of the railroad operator's stock after acquiring an additional 2,967 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Norfolk Southern were worth $21,786,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Norfolk Southern by 3.6% in the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock worth $63,417,000 after purchasing an additional 8,844 shares during the period. Caprock Group LLC purchased a new position in shares of Norfolk Southern during the fourth quarter worth approximately $1,796,000. Grandview Asset Management LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $918,000. Dorsey & Whitney Trust CO LLC grew its stake in Norfolk Southern by 2.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock worth $1,333,000 after purchasing an additional 128 shares in the last quarter. Finally, Garner Asset Management Corp increased its holdings in Norfolk Southern by 3.2% during the 3rd quarter. Garner Asset Management Corp now owns 3,168 shares of the railroad operator's stock worth $787,000 after purchasing an additional 97 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.
Norfolk Southern Stock Performance
Norfolk Southern stock traded up $1.65 during mid-day trading on Wednesday, reaching $235.65. 1,276,670 shares of the company traded hands, compared to its average volume of 1,232,763. The company has a market capitalization of $53.36 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The firm's fifty day moving average is $245.91 and its two-hundred day moving average is $249.52. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60.
Norfolk Southern (NYSE:NSC - Get Free Report) last released 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 return on equity of 20.04% and a net margin of 21.63%. On average, equities research 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 disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.29%. Norfolk Southern's dividend payout ratio (DPR) is presently 46.71%.
Insider Transactions at Norfolk Southern
In other news, Director Gilbert H. Lamphere acquired 607 shares of the business's stock in a transaction on Friday, January 31st. The stock was bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on NSC shares. Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a research report on Friday, March 7th. They set a "buy" rating and a $293.00 price target on the stock. Stephens boosted their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Loop Capital downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating and dropped their price objective for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Susquehanna reduced their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America dropped their target price on Norfolk Southern from $292.00 to $272.00 and set a "buy" rating on the stock in a research report on Tuesday. One 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $275.63.
Get Our Latest Stock Analysis on Norfolk Southern
About Norfolk Southern
(
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.
Further Reading
Before you consider Norfolk Southern, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Norfolk Southern wasn't on the list.
While Norfolk Southern currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
