ING Groep NV Purchases 66,454 Shares of Norfolk Southern Co. (NYSE:NSC)

ING Groep NV boosted its position in Norfolk Southern Co. (NYSE:NSC) by 374.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,196 shares of the railroad operator’s stock after acquiring an additional 66,454 shares during the period. ING Groep NV’s holdings in Norfolk Southern were worth $19,761,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Norfolk Southern by 3.6% in the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after acquiring an additional 8,844 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Norfolk Southern by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after acquiring an additional 2,453 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Norfolk Southern by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after acquiring an additional 3,621 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in Norfolk Southern by 25,181.8% during the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after buying an additional 889,925 shares during the last quarter. Finally, Caprock Group LLC bought a new position in Norfolk Southern during the fourth quarter worth about $1,796,000. Institutional investors own 75.10% of the company’s stock.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy acquired 350 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the acquisition, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert H. Lamphere acquired 607 shares of the company’s stock in a transaction on Friday, January 31st. The stock was bought at an average cost 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. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $249.40 on Friday. 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 Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The stock has a 50 day moving average of $245.43 and a 200-day moving average of $250.60. The company has a market capitalization of $56.47 billion, a P/E ratio of 21.57, a P/E/G ratio of 2.39 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 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%. As a group, equities research analysts predict that Norfolk Southern Co. will post 13.02 EPS for the current year.

Norfolk Southern Announces Dividend

The company 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 yield of 2.17%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NSC shares. Royal Bank of Canada raised their target price on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Barclays raised their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. 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 report on Thursday, January 30th. Finally, Robert W. Baird lifted their target price on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report 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 given a buy rating to the company’s stock. According to data from MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.11.

About Norfolk Southern

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.