First Trust Advisors LP Grows Position in Norfolk Southern Co. (NYSE:NSC)

First Trust Advisors LP raised its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 217,830 shares of the railroad operator's stock after purchasing an additional 13,347 shares during the period. First Trust Advisors LP owned approximately 0.10% of Norfolk Southern worth $51,125,000 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 NSC. Financial Life Planners bought a new stake in Norfolk Southern in the 4th quarter worth approximately $27,000. Keystone Financial Group Inc. bought a new stake in Norfolk Southern in the fourth quarter worth $27,000. Bank of Jackson Hole Trust purchased a new stake in Norfolk Southern during the fourth quarter valued at about $27,000. Vision Financial Markets LLC purchased a new position in shares of Norfolk Southern in the fourth quarter worth about $28,000. Finally, Atlantic Private Wealth LLC bought a new stake in shares of Norfolk Southern in the 4th quarter valued at about $29,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the company's stock in a transaction dated Friday, January 31st. The shares were purchased 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 owns 2,487 shares in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BMO Capital Markets reiterated a "market perform" rating and issued a $255.00 price objective on shares of Norfolk Southern in a research report on Thursday. Evercore ISI lowered their price target on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a report on Thursday. Barclays cut their price target on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a research note on Friday, March 7th. They set a "buy" rating and a $293.00 price objective for the company. Finally, Stephens raised their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $266.10.

Norfolk Southern Stock Down 0.1 %

NSC traded down $0.27 during midday trading on Monday, reaching $221.44. The company's stock had a trading volume of 227,590 shares, compared to its average volume of 1,250,625. The stock's 50-day moving average is $230.35 and its 200-day moving average is $244.92. Norfolk Southern Co. has a 1 year low of $201.63 and a 1 year high of $277.60. The firm has a market capitalization of $54.60 billion, a price-to-earnings ratio of 19.16, a PEG 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.

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 for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. As a group, research analysts expect that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared 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 2.44%. The ex-dividend date of this dividend is Friday, May 2nd. Norfolk Southern's payout ratio is 36.89%.

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.