DnB Asset Management AS Purchases 956 Shares of Norfolk Southern Co. (NYSE:NSC)

DnB Asset Management AS increased its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,944 shares of the railroad operator’s stock after purchasing an additional 956 shares during the period. DnB Asset Management AS’s holdings in Norfolk Southern were worth $17,120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NSC. Financial Life Planners acquired a new position in Norfolk Southern in the fourth quarter valued at about $27,000. Keystone Financial Group Inc. bought a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust bought a new stake in shares of Norfolk Southern during the 4th quarter valued at $27,000. Vision Financial Markets LLC bought a new stake in shares of Norfolk Southern in the 4th quarter valued at about $28,000. Finally, Atlantic Private Wealth LLC acquired a new stake in Norfolk Southern in the fourth quarter worth $29,000. Institutional investors own 75.10% of the company’s stock.

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the transaction, the director now owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Down 2.0 %

NSC opened at $230.41 on Friday. The company has a fifty day moving average price of $245.28 and a two-hundred day moving average price of $249.14. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a market cap of $52.17 billion, a P/E ratio of 19.93, 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.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results 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%. Analysts predict that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed 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 payout ratio is 46.71%.

Analyst Upgrades and Downgrades

NSC has been the topic of several research reports. Robert W. Baird boosted their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Wells Fargo & Company cut their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on Norfolk Southern in a report on Friday, March 7th. They set a “buy” rating and a $293.00 target price on the stock. Stephens raised their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, Benchmark restated a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $274.84.

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.