Reaves W H & Co. Inc. Has $51.47 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Reaves W H & Co. Inc. lifted its holdings in Norfolk Southern Co. (NYSE:NSC) by 23.5% during the 4th quarter, HoldingsChannel reports. The fund owned 219,300 shares of the railroad operator’s stock after acquiring an additional 41,700 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Norfolk Southern were worth $51,470,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of NSC. Principal Financial Group Inc. lifted its position in Norfolk Southern by 3.6% during the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock worth $63,417,000 after purchasing an additional 8,844 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Norfolk Southern by 0.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after purchasing an additional 3,621 shares during the period. Caprock Group LLC bought a new stake in Norfolk Southern during the fourth quarter worth about $1,796,000. Grandview Asset Management LLC bought a new stake in Norfolk Southern during the fourth quarter worth about $918,000. Finally, Garner Asset Management Corp lifted its position in Norfolk Southern by 3.2% during the third quarter. Garner Asset Management Corp now owns 3,168 shares of the railroad operator’s stock worth $787,000 after purchasing an additional 97 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NSC opened at $244.90 on Tuesday. 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 business’s fifty day moving average is $246.25 and its 200 day moving average is $250.94. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The stock has a market cap of $55.45 billion, a P/E ratio of 21.19, a P/E/G ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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%. Sell-side 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. Stockholders of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.20%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Insider Buying and Selling

In related news, Director Gilbert H. Lamphere acquired 607 shares of the stock in a transaction on Friday, January 31st. The stock was purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sameh Fahmy acquired 350 shares of the stock in a transaction on Thursday, December 12th. The stock was bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the transaction, 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 position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Barclays increased their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Robert W. Baird increased their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Benchmark reissued a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Finally, Wells Fargo & Company dropped their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One 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 MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average price target 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.