Fmr LLC Raises Position in Norfolk Southern Co. (NYSE:NSC)

Fmr LLC grew its holdings in Norfolk Southern Co. (NYSE:NSC) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,073,933 shares of the railroad operator’s stock after acquiring an additional 371,589 shares during the period. Fmr LLC owned about 1.36% of Norfolk Southern worth $721,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in Norfolk Southern during the 4th quarter worth about $547,575,000. Boston Partners grew its position in shares of Norfolk Southern by 16.9% during the fourth quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock worth $945,385,000 after buying an additional 580,293 shares in the last quarter. Amundi increased its stake in shares of Norfolk Southern by 56.4% during the fourth quarter. Amundi now owns 1,302,635 shares of the railroad operator’s stock worth $308,607,000 after buying an additional 469,558 shares during the period. Raymond James Financial Inc. acquired a new stake in Norfolk Southern in the fourth quarter valued at approximately $105,225,000. Finally, Cbre Investment Management Listed Real Assets LLC purchased a new position in Norfolk Southern in the fourth quarter worth approximately $75,621,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $205.85 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The company has a 50-day simple moving average of $239.97 and a 200-day simple moving average of $247.45. The stock has a market capitalization of $50.75 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS 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%. On average, analysts predict that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.62%. Norfolk Southern’s dividend payout ratio (DPR) is 46.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NSC. Barclays reduced their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Citigroup cut their price target on Norfolk Southern from $298.00 to $259.00 and set a “buy” rating on the stock in a research note on Tuesday. Robert W. Baird lifted their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a report on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective on the stock. Finally, Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and decreased their target price for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $269.74.

Insider Buying and Selling at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction dated 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 completion of the acquisition, the director now directly owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate 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.