Advisors Asset Management Inc. Buys 4,224 Shares of Norfolk Southern Co. (NYSE:NSC)

Advisors Asset Management Inc. raised its stake in Norfolk Southern Co. (NYSE:NSC) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,348 shares of the railroad operator’s stock after buying an additional 4,224 shares during the period. Advisors Asset Management Inc.’s holdings in Norfolk Southern were worth $5,714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Life Planners bought a new stake in Norfolk Southern in the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern in the 4th quarter valued at $27,000. Bank of Jackson Hole Trust bought a new stake in shares of Norfolk Southern in the 4th quarter valued at $27,000. Vision Financial Markets LLC bought a new position in Norfolk Southern during the fourth quarter worth $28,000. Finally, Morse Asset Management Inc acquired a new position in Norfolk Southern in the third quarter valued at $30,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.1 %

Shares of Norfolk Southern stock opened at $234.71 on Thursday. The stock has a fifty day moving average price of $246.14 and a 200-day moving average price of $250.14. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The firm has a market cap of $53.15 billion, a PE ratio of 20.30, a P/E/G ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data 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 net margin of 21.63% and a return on equity of 20.04%. Equities research analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction dated Friday, January 31st. The shares were bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Robert W. Baird lifted their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Benchmark restated a “buy” rating and set a $285.00 price target on shares of Norfolk Southern in a report on Thursday, January 30th. Stephens lifted their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Susquehanna dropped their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $276.95.

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.