BI Asset Management Fondsmaeglerselskab A S Grows Position in Norfolk Southern Co. (NYSE:NSC)

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 122.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,854 shares of the railroad operator’s stock after buying an additional 7,063 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Norfolk Southern were worth $3,017,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NSC. Principal Financial Group Inc. boosted its holdings in shares of Norfolk Southern by 3.6% during the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock worth $63,417,000 after purchasing an additional 8,844 shares during the period. Geode Capital Management LLC grew its position in shares of Norfolk Southern by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator’s stock worth $1,098,472,000 after buying an additional 113,648 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Norfolk Southern during the fourth quarter valued at approximately $1,796,000. Grandview Asset Management LLC purchased a new stake in Norfolk Southern in the fourth quarter worth $918,000. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in Norfolk Southern by 2.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator’s stock valued at $1,333,000 after acquiring an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NSC. Citigroup decreased their price objective on shares of Norfolk Southern from $298.00 to $259.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a report on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Bank of America dropped 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. Finally, UBS Group decreased their price objective on Norfolk Southern from $305.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $268.79.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the stock in a transaction dated 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 purchase, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Norfolk Southern Trading Up 2.8 %

Norfolk Southern stock opened at $219.99 on Monday. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The business’s fifty day moving average is $233.78 and its 200 day moving average is $245.74. The stock has a market capitalization of $54.24 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82.

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, 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%. On average, sell-side analysts predict 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. Stockholders of record on Friday, February 7th were issued a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. Norfolk Southern’s payout ratio is 46.71%.

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.