Bessemer Group Inc. Raises Stake in Norfolk Southern Co. (NYSE:NSC)

Bessemer Group Inc. grew its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,897 shares of the railroad operator’s stock after acquiring an additional 255 shares during the quarter. Bessemer Group Inc.’s holdings in Norfolk Southern were worth $3,732,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The stock was 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 of the company’s stock, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Stock Up 1.1 %

Norfolk Southern stock opened at $217.94 on Friday. Norfolk Southern Co. has a 52 week low of $201.63 and a 52 week high of $277.60. The firm has a market cap of $53.73 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. The business’s 50-day moving average price is $237.20 and its 200 day moving average price is $246.72. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating 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%. As a group, sell-side analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm 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 dividend yield of 2.48%. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Wall Street Analysts Forecast Growth

NSC has been the subject of several analyst reports. Benchmark reissued a “buy” rating and set a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Susquehanna cut their target price on Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Jefferies Financial Group lowered their price target on Norfolk Southern from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird lifted their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Bank of America decreased their target price on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $268.68.

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.