Norfolk Southern Co. (NYSE:NSC) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 2.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,694,573 shares of the railroad operator’s stock after buying an additional 113,648 shares during the quarter. Geode Capital Management LLC’s holdings in Norfolk Southern were worth $1,098,472,000 at the end of the most recent quarter.

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

Norfolk Southern Trading Down 0.2 %

Shares of Norfolk Southern stock opened at $236.46 on Wednesday. The company has a fifty day simple moving average of $244.81 and a 200-day simple moving average of $248.86. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The stock has a market cap of $53.54 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data 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%. On average, equities analysts forecast that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company 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. This represents a $5.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s payout ratio is currently 46.71%.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on NSC shares. Bank of America lowered their price target on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Benchmark reiterated a “buy” rating and set a $285.00 price target on shares of Norfolk Southern in a research note on Thursday, January 30th. Royal Bank of Canada raised their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company cut their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and an average target price 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.