Texas Bank & Trust Co Takes $1.09 Million Position in Norfolk Southern Co. (NYSE:NSC)

Texas Bank & Trust Co acquired a new stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,632 shares of the railroad operator's stock, valued at approximately $1,087,000.

A number of other institutional investors have also modified their holdings of NSC. Norges Bank bought a new stake in shares of Norfolk Southern during the 4th quarter valued at about $547,575,000. Price T Rowe Associates Inc. MD grew its position in shares of Norfolk Southern by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock valued at $2,020,318,000 after buying an additional 918,559 shares during the last quarter. Boston Partners grew its position in shares of Norfolk Southern by 16.9% during the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator's stock valued at $945,385,000 after buying an additional 580,293 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Norfolk Southern by 293.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator's stock valued at $157,643,000 after buying an additional 501,053 shares during the last quarter. Finally, Amundi grew its position in Norfolk Southern by 56.4% in the 4th quarter. Amundi now owns 1,302,635 shares of the railroad operator's stock worth $308,607,000 after purchasing an additional 469,558 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Up 0.9%

Shares of NYSE:NSC opened at $246.19 on Friday. The stock has a market capitalization of $55.50 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a 1-year low of $201.63 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. The company has a 50 day moving average price of $226.19 and a 200 day moving average price of $242.47.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The firm had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter last year, the company posted $2.49 EPS. The firm's revenue was down .4% compared to the same quarter last year. On average, research analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, May 2nd. Norfolk Southern's dividend payout ratio is 36.89%.

Analysts Set New Price Targets

Several equities research analysts have commented on NSC shares. Barclays dropped their price target 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. BMO Capital Markets restated a "market perform" rating and issued a $255.00 price target on shares of Norfolk Southern in a research note on Thursday, April 24th. Stephens raised their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Loop Capital lowered shares of Norfolk Southern from a "buy" rating to a "hold" rating and dropped their price target for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of "Moderate Buy" and a consensus price target of $266.50.

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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Co. (NYSE:NSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.