Fisher Funds Management LTD Takes Position in Norfolk Southern Co. (NYSE:NSC)

Fisher Funds Management LTD purchased a new position in Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,872 shares of the railroad operator’s stock, valued at approximately $2,320,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NSC. Highline Wealth Partners LLC purchased a new stake in Norfolk Southern during the 3rd quarter worth approximately $25,000. Financial Life Planners acquired a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $27,000. Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern in the fourth quarter worth $27,000. Bank of Jackson Hole Trust acquired a new stake in Norfolk Southern in the fourth quarter valued at $27,000. Finally, Morse Asset Management Inc bought a new position in Norfolk Southern during the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.6 %

Norfolk Southern stock opened at $247.84 on Monday. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $56.12 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.31 and a beta of 1.35. The firm has a 50-day moving average price of $245.46 and a two-hundred day moving average price of $250.78.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data 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%. Sell-side analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.18%. Norfolk Southern’s payout ratio is 46.71%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NSC. Susquehanna dropped their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Benchmark reissued a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Barclays increased their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price target for the company from $289.00 to $256.00 in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.11.

Insider Activity

In related news, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sameh Fahmy acquired 350 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now directly 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 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.