Wellington Management Group LLP Purchases 820 Shares of Norfolk Southern Co. (NYSE:NSC)

Wellington Management Group LLP grew its position in shares of Norfolk Southern Co. (NYSE:NSC) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 23,882 shares of the railroad operator’s stock after acquiring an additional 820 shares during the quarter. Wellington Management Group LLP’s holdings in Norfolk Southern were worth $5,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Life Planners bought a new stake in Norfolk Southern in the 4th quarter worth approximately $27,000. Keystone Financial Group Inc. purchased a new position in shares of Norfolk Southern during the fourth quarter worth approximately $27,000. Bank of Jackson Hole Trust bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $27,000. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at $30,000. Finally, Vision Financial Markets LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at $28,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NSC. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a research note on Friday, March 7th. They issued a “buy” rating and a $293.00 price target for the company. Benchmark reaffirmed a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a research note on Thursday, January 30th. Stephens increased their price objective on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Barclays decreased their target price on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada increased their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $268.68.

Norfolk Southern Price Performance

NSC opened at $215.63 on Friday. Norfolk Southern Co. has a 12-month low of $201.63 and a 12-month high of $277.60. The company has a market cap of $53.17 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. 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 fifty day simple moving average of $237.90 and a two-hundred day simple moving average of $246.89.

Norfolk Southern (NYSE:NSC) last issued 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%. Research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.50%. Norfolk Southern’s payout ratio is currently 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.