DnB Asset Management AS Purchases 956 Shares of Norfolk Southern Co. (NYSE:NSC)

DnB Asset Management AS raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,944 shares of the railroad operator’s stock after acquiring an additional 956 shares during the period. DnB Asset Management AS’s holdings in Norfolk Southern were worth $17,120,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Financial Life Planners purchased a new position in shares of Norfolk Southern in the fourth quarter worth about $27,000. Keystone Financial Group Inc. purchased a new stake in shares of Norfolk Southern in the 4th quarter worth about $27,000. Bank of Jackson Hole Trust purchased a new position in shares of Norfolk Southern during the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth $28,000. Finally, Atlantic Private Wealth LLC bought a new stake in Norfolk Southern during the 4th quarter valued at about $29,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

NSC stock opened at $230.41 on Friday. 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 company has a market capitalization of $52.17 billion, a PE ratio of 19.93, a P/E/G ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The stock’s 50 day moving average is $245.28 and its two-hundred day moving average is $249.14.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.34%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Analysts Set New Price Targets

A number of research firms have weighed in on NSC. Royal Bank of Canada increased their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Benchmark reaffirmed a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Stephens lifted their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Robert W. Baird increased their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Susquehanna lowered their target price on shares of Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $274.84.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere purchased 607 shares of the company’s 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 $646,271.82. This trade represents a 32.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

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.