Zacks Investment Management Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

Zacks Investment Management bought a new stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 191,884 shares of the railroad operator's stock, valued at approximately $45,035,000. Zacks Investment Management owned approximately 0.08% of Norfolk Southern as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern in the third quarter worth $30,000. Wellington Management Group LLP increased its stake in Norfolk Southern by 27.9% in the 3rd quarter. Wellington Management Group LLP now owns 23,062 shares of the railroad operator's stock worth $5,731,000 after acquiring an additional 5,032 shares during the last quarter. Wealthquest Corp purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $216,000. Anchor Investment Management LLC boosted its position in shares of Norfolk Southern by 1.2% during the 3rd quarter. Anchor Investment Management LLC now owns 14,265 shares of the railroad operator's stock valued at $3,545,000 after acquiring an additional 170 shares during the last quarter. Finally, World Investment Advisors LLC increased its position in shares of Norfolk Southern by 10.7% in the third quarter. World Investment Advisors LLC now owns 11,226 shares of the railroad operator's stock worth $2,790,000 after purchasing an additional 1,089 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Analysts Set New Price Targets

NSC has been the topic of several research reports. 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. Stephens upped 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. Susquehanna decreased their price objective on Norfolk Southern from $265.00 to $260.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Citigroup lowered their price objective on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given 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 $268.79.

Norfolk Southern Trading Up 2.8 %

Shares of NYSE:NSC traded up $5.96 on Friday, hitting $219.99. The company had a trading volume of 1,362,718 shares, compared to its average volume of 1,253,317. Norfolk Southern Co. has a 1 year low of $201.63 and a 1 year high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The firm's 50-day simple moving average is $233.78 and its two-hundred day simple moving average is $245.73. The firm has a market capitalization of $54.24 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 2.31 and a beta of 1.30.

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 for the quarter, beating 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%. Equities analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. Norfolk Southern's payout ratio is 46.71%.

Insider Buying and Selling

In related news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction that occurred 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 transaction, the director now directly owns 2,487 shares in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by insiders.

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.