Vanguard Group Inc. Acquires 139,485 Shares of Norfolk Southern Co. (NYSE:NSC)

Vanguard Group Inc. raised its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,089,164 shares of the railroad operator’s stock after acquiring an additional 139,485 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Norfolk Southern worth $4,714,927,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. United Bank boosted its holdings in shares of Norfolk Southern by 2.4% during the 3rd quarter. United Bank now owns 8,875 shares of the railroad operator’s stock worth $2,205,000 after buying an additional 204 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Norfolk Southern by 5.6% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 33,359 shares of the railroad operator’s stock worth $8,290,000 after buying an additional 1,783 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of Norfolk Southern during the third quarter worth approximately $440,000. Kingsview Wealth Management LLC boosted its position in shares of Norfolk Southern by 1.8% in the third quarter. Kingsview Wealth Management LLC now owns 8,718 shares of the railroad operator’s stock valued at $2,166,000 after acquiring an additional 155 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Norfolk Southern by 6.4% in the third quarter. Larson Financial Group LLC now owns 1,985 shares of the railroad operator’s stock worth $493,000 after acquiring an additional 120 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 1.9 %

Shares of NYSE:NSC opened at $236.11 on Tuesday. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The firm has a market cap of $53.46 billion, a P/E ratio of 20.42, a P/E/G ratio of 2.31 and a beta of 1.35. 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’s 50-day moving average price is $246.01 and its two-hundred day moving average price is $249.63.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts forecast that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Wall Street Analyst Weigh In

NSC has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. 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 research note on Thursday, January 30th. Wells Fargo & Company reduced their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Benchmark reissued a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a research note on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $276.63.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by company insiders.

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.