Norfolk Southern Co. (NYSE:NSC) Shares Purchased by Primecap Management Co. CA

Primecap Management Co. CA grew its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 46.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 673,200 shares of the railroad operator’s stock after acquiring an additional 214,700 shares during the period. Primecap Management Co. CA’s holdings in Norfolk Southern were worth $158,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Life Planners acquired a new position in Norfolk Southern in the fourth quarter worth about $27,000. Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $27,000. Bank of Jackson Hole Trust acquired a new stake in shares of Norfolk Southern during the 4th quarter valued at approximately $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 worth $30,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NSC. Wells Fargo & Company dropped their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Norfolk Southern in a report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price on the stock. Royal Bank of Canada upped 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. Susquehanna cut their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird upped their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus price target of $276.95.

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

NYSE NSC opened at $234.37 on Wednesday. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The firm has a market capitalization of $53.07 billion, a PE ratio of 20.27, a P/E/G ratio of 2.31 and a beta of 1.35. The company’s 50 day simple moving average is $246.19 and its 200 day simple moving average is $250.25. 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 (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. As a group, equities research analysts forecast that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued 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 payout ratio is 46.71%.

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.