Canada Pension Plan Investment Board Boosts Stake in Norfolk Southern Co. (NYSE:NSC)

Canada Pension Plan Investment Board raised its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,123 shares of the railroad operator's stock after purchasing an additional 10,477 shares during the quarter. Canada Pension Plan Investment Board owned 0.05% of Norfolk Southern worth $28,428,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Financial Life Planners purchased a new position in shares of Norfolk Southern in the fourth quarter valued at about $27,000. Keystone Financial Group Inc. bought a new position in shares of Norfolk Southern during the fourth quarter worth $27,000. Bank of Jackson Hole Trust purchased a new position in Norfolk Southern during the fourth quarter valued at $27,000. Vision Financial Markets LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at about $28,000. Finally, Atlantic Private Wealth LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth about $29,000. 75.10% of the stock is currently owned by institutional investors.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NSC. Susquehanna cut their price target on Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday. Benchmark restated a "buy" rating and issued a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Bank of America lowered their price objective on shares of Norfolk Southern from $292.00 to $272.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. JPMorgan Chase & Co. boosted their price objective on Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Stephens increased their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $266.10.

Norfolk Southern Stock Down 1.7 %

NYSE:NSC traded down $3.88 during midday trading on Friday, reaching $222.81. 455,239 shares of the stock traded hands, compared to its average volume of 1,254,595. Norfolk Southern Co. has a 12-month low of $201.63 and a 12-month high of $277.60. The business has a 50-day moving average of $231.08 and a two-hundred day moving average of $245.08. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a market capitalization of $54.93 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.01 billion. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. On average, equities analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.42%. Norfolk Southern's payout ratio is presently 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.