MetLife Investment Management LLC Increases Stake in Norfolk Southern Co. (NYSE:NSC)

MetLife Investment Management LLC grew its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,876 shares of the railroad operator’s stock after purchasing an additional 1,086 shares during the quarter. MetLife Investment Management LLC’s holdings in Norfolk Southern were worth $14,053,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Life Planners purchased a new stake in Norfolk Southern during the 4th quarter valued at $27,000. Keystone Financial Group Inc. purchased a new stake in shares of Norfolk Southern during the fourth quarter worth about $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Norfolk Southern during the fourth quarter worth about $27,000. Vision Financial Markets LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $28,000. Finally, Atlantic Private Wealth LLC purchased a new position in Norfolk Southern during the 4th quarter valued at about $29,000. Institutional investors own 75.10% of the company’s stock.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was purchased at an average price 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 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 the SEC website. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Jefferies Financial Group cut their price target on shares of Norfolk Southern from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Bank of America decreased their price objective on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Benchmark reiterated a “buy” rating and set a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Finally, Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $268.79.

Norfolk Southern Trading Up 2.8 %

Norfolk Southern stock opened at $219.99 on Monday. Norfolk Southern Co. has a 12 month low of $201.63 and a 12 month 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 business’s fifty day simple moving average is $233.78 and its two-hundred day simple moving average is $245.74. The company has a market capitalization of $54.24 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS 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, equities analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors 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 dividend on an annualized basis and a yield of 2.45%. Norfolk Southern’s payout ratio is currently 46.71%.

About Norfolk Southern

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.