Franklin Resources Inc. Buys 299,096 Shares of Norfolk Southern Co. (NYSE:NSC)

Franklin Resources Inc. boosted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 138.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 515,302 shares of the railroad operator’s stock after acquiring an additional 299,096 shares during the quarter. Franklin Resources Inc.’s holdings in Norfolk Southern were worth $120,941,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in NSC. Financial Life Planners bought a new position in Norfolk Southern during the 4th quarter worth $27,000. Keystone Financial Group Inc. bought a new position in shares of Norfolk Southern during the fourth quarter worth approximately $27,000. Bank of Jackson Hole Trust acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Morse Asset Management Inc bought a new stake in shares of Norfolk Southern in the third quarter valued at approximately $30,000. Finally, Vision Financial Markets LLC bought a new position in Norfolk Southern in the 4th quarter valued at about $28,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Trading Up 1.0 %

NYSE NSC opened at $238.95 on Thursday. The firm has a market cap of $54.11 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The stock has a 50-day moving average of $244.55 and a 200-day moving average of $248.79.

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 the consensus estimate 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 forecast that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction 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 acquisition, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. The trade was 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. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NSC shares. Loop Capital cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and dropped their target price for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Bank of America reduced their price target on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. JPMorgan Chase & Co. upped their target price on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They set a “buy” rating and a $293.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.74.

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.