Citizens Financial Group Inc. RI Acquires 703 Shares of Norfolk Southern Co. (NYSE:NSC)

Citizens Financial Group Inc. RI increased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,241 shares of the railroad operator’s stock after buying an additional 703 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Norfolk Southern were worth $1,230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sage Mountain Advisors LLC lifted its position in shares of Norfolk Southern by 9.6% during the 4th quarter. Sage Mountain Advisors LLC now owns 2,225 shares of the railroad operator’s stock worth $522,000 after buying an additional 195 shares during the last quarter. Dearborn Partners LLC increased its holdings in Norfolk Southern by 3.9% in the 4th quarter. Dearborn Partners LLC now owns 4,598 shares of the railroad operator’s stock worth $1,079,000 after purchasing an additional 171 shares in the last quarter. Independent Advisor Alliance increased its holdings in Norfolk Southern by 3.1% in the 4th quarter. Independent Advisor Alliance now owns 7,082 shares of the railroad operator’s stock worth $1,662,000 after purchasing an additional 214 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Norfolk Southern by 7.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 29,769 shares of the railroad operator’s stock worth $6,987,000 after purchasing an additional 2,121 shares in the last quarter. Finally, Saybrook Capital NC increased its holdings in Norfolk Southern by 0.9% in the 4th quarter. Saybrook Capital NC now owns 36,357 shares of the railroad operator’s stock worth $8,533,000 after purchasing an additional 310 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were bought at an average price of $259.86 per share, for a total transaction 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 $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Down 0.9 %

Shares of Norfolk Southern stock opened at $230.91 on Thursday. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. 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 stock’s 50-day moving average is $246.51 and its 200 day moving average is $250.74. The firm has a market cap of $52.28 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.31 and a beta of 1.35.

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

Norfolk Southern Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.34%. Norfolk Southern’s payout ratio is currently 46.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price for the company. Benchmark reaffirmed a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and lowered their target price for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Royal Bank of Canada increased their price target on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $276.95.

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.