Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB raised its stake in Norfolk Southern Co. (NYSE:NSC) by 2.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 57,528 shares of the railroad operator’s stock after buying an additional 1,272 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Norfolk Southern were worth $13,502,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in Norfolk Southern by 3.6% in the 3rd 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 last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Norfolk Southern by 20.5% in the 3rd 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 period. Sumitomo Mitsui Trust Group Inc. raised its stake in Norfolk Southern by 0.7% during the 3rd 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 in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after purchasing an additional 889,925 shares in the last quarter. Finally, Caprock Group LLC bought a new stake in shares of Norfolk Southern during the fourth quarter valued at about $1,796,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $249.20 on Friday. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The business’s 50-day simple moving average is $247.05 and its 200-day simple moving average is $249.50. The firm has a market cap of $56.38 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 2.32 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (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%. As a group, equities research analysts expect that Norfolk Southern Co. will post 13.02 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.17%. Norfolk Southern’s payout ratio is presently 46.71%.

Insider Buying and Selling

In related news, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern 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 owns 2,487 shares in the company, valued at approximately $646,271.82. This trade 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 owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Susquehanna lowered 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 note on Wednesday, January 8th. Royal Bank of Canada boosted 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. Bank of America lifted their price target on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird raised their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Barclays lifted their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

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.