Ieq Capital LLC Boosts Stake in Norfolk Southern Co. (NYSE:NSC)

Ieq Capital LLC raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,566 shares of the railroad operator’s stock after acquiring an additional 861 shares during the quarter. Ieq Capital LLC’s holdings in Norfolk Southern were worth $2,715,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in Norfolk Southern by 3.6% in the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after purchasing an additional 8,844 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 worth $3,556,000 after buying an additional 2,453 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 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 buying an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after acquiring an additional 889,925 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in Norfolk Southern in the fourth quarter worth $1,796,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.6 %

NYSE NSC opened at $247.84 on Friday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The stock has a market capitalization of $56.12 billion, a PE ratio of 21.44, a PEG 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. The business’s 50-day moving average is $245.46 and its 200 day moving average is $250.71.

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

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.18%. Norfolk Southern’s dividend payout ratio is 46.71%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NSC. Susquehanna lowered their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company dropped 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. Loop Capital cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and reduced their price target for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Robert W. Baird lifted their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Benchmark reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern 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 twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and an average price target of $276.11.

Insider Activity

In other news, Director Sameh Fahmy bought 350 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average price 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

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.