Cibc World Markets Corp Increases Stake in Norfolk Southern Co. (NYSE:NSC)

Cibc World Markets Corp lifted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 16.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 35,689 shares of the railroad operator’s stock after buying an additional 5,035 shares during the quarter. Cibc World Markets Corp’s holdings in Norfolk Southern were worth $8,376,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Raab & Moskowitz Asset Management LLC increased its holdings in shares of Norfolk Southern by 2.4% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after buying an additional 41 shares during the period. Albert D Mason Inc. increased its stake in Norfolk Southern by 0.7% in the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after purchasing an additional 46 shares during the period. Signal Advisors Wealth LLC lifted its position in Norfolk Southern by 5.4% in the fourth quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator’s stock valued at $225,000 after purchasing an additional 49 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Norfolk Southern by 2.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,507 shares of the railroad operator’s stock valued at $588,000 after purchasing an additional 49 shares during the period. Finally, CKW Financial Group grew its holdings in shares of Norfolk Southern by 7.7% in the third quarter. CKW Financial Group now owns 700 shares of the railroad operator’s stock worth $174,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on NSC. Robert W. Baird increased their price target 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. Wells Fargo & Company cut their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Susquehanna lowered their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and cut their price objective for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Finally, Benchmark restated a “buy” rating and set a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.95.

Insider Buying and Selling at Norfolk Southern

In other news, Director Gilbert H. Lamphere acquired 607 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was bought 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 approximately $646,271.82. The trade was a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Down 0.0 %

NSC stock opened at $234.37 on Wednesday. The stock has a market capitalization of $53.07 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The business has a fifty day moving average price of $246.19 and a 200-day moving average price of $250.25.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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%. Equities analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business 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 of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

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.