Teacher Retirement System of Texas Buys 34,346 Shares of Norfolk Southern Co. (NYSE:NSC)

Teacher Retirement System of Texas boosted its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 1,248.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 37,096 shares of the railroad operator's stock after purchasing an additional 34,346 shares during the quarter. Teacher Retirement System of Texas' holdings in Norfolk Southern were worth $8,706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock worth $63,417,000 after acquiring an additional 8,844 shares during the last quarter. Caprock Group LLC bought a new position in Norfolk Southern during the 4th quarter valued at about $1,796,000. Grandview Asset Management LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at about $918,000. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Norfolk Southern by 2.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock valued at $1,333,000 after purchasing an additional 128 shares during the last quarter. Finally, Garner Asset Management Corp boosted its holdings in Norfolk Southern by 3.2% in the third 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 last quarter. 75.10% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Gilbert H. Lamphere purchased 607 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, the director now owns 2,487 shares of the company's stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company's stock.

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Norfolk Southern Price Performance

Shares of NSC stock traded down $0.25 during mid-day trading on Thursday, hitting $235.51. The company had a trading volume of 1,260,821 shares, compared to its average volume of 1,155,334. The company has a market capitalization of $53.33 billion, a P/E ratio of 20.37, a P/E/G 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 has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The stock's 50 day moving average price is $245.81 and its 200-day moving average price is $249.42.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating 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 research analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern's payout ratio is 46.71%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stephens raised their price target on Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Wells Fargo & Company dropped their target price on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a research note on Friday, March 7th. They issued a "buy" rating and a $293.00 price objective on the stock. Loop Capital lowered shares of Norfolk Southern from a "buy" rating to a "hold" rating and cut their target price for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Finally, Robert W. Baird lifted their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $274.84.

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.