Norfolk Southern Co. (NYSE:NSC) Shares Acquired by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. increased its holdings in Norfolk Southern Co. (NYSE:NSC) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,798 shares of the railroad operator’s stock after buying an additional 183 shares during the period. EFG Asset Management Americas Corp.’s holdings in Norfolk Southern were worth $1,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its position in shares of Norfolk Southern by 2.1% in the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock worth $2,318,716,000 after buying an additional 196,249 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Norfolk Southern by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after buying an additional 62,186 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Norfolk Southern by 2.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock worth $967,340,000 after buying an additional 103,281 shares in the last quarter. Mizuho Securities USA LLC boosted its position in shares of Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after buying an additional 3,280,579 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after buying an additional 881,415 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Up 0.2 %

NSC opened at $239.17 on Friday. The firm has a 50 day moving average price of $246.33 and a 200 day moving average price of $250.76. The company has a market cap of $54.16 billion, a PE ratio of 20.69, 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 debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90.

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

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.26%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird upped their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Stephens upped their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Susquehanna reduced their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Citigroup upped their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $276.11.

Insider Activity

In other news, Director Gilbert H. Lamphere acquired 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sameh Fahmy acquired 350 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were purchased 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. Insiders own 0.19% of the company’s stock.

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.