OFI Invest Asset Management Buys New Stake in Norfolk Southern Co. (NYSE:NSC)

OFI Invest Asset Management bought a new stake in Norfolk Southern Co. (NYSE:NSC) in the 4th quarter, Holdings Channel.com reports. The fund bought 2,052 shares of the railroad operator’s stock, valued at approximately $465,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of Norfolk Southern in the fourth quarter worth $27,000. Keystone Financial Group Inc. acquired a new position in shares of Norfolk Southern in the fourth quarter worth $27,000. Bank of Jackson Hole Trust acquired a new position in shares of Norfolk Southern in the fourth quarter worth $27,000. Morse Asset Management Inc acquired a new position in shares of Norfolk Southern in the third quarter worth $30,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Norfolk Southern in the fourth quarter worth $28,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Activity

In other news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the purchase, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC opened at $243.89 on Monday. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The stock has a market cap of $55.22 billion, a PE ratio of 21.10, a price-to-earnings-growth 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 firm has a fifty day moving average price of $246.51 and a 200 day moving average price of $250.92.

Norfolk Southern (NYSE:NSC) last announced 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, sell-side analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.21%. Norfolk Southern’s payout ratio is 46.71%.

Analyst Ratings Changes

Several research firms have commented on NSC. Royal Bank of Canada boosted their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a research report on Friday. They set a “buy” rating and a $293.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a research 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $276.95.

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.