California State Teachers Retirement System Has $78.75 Million Position in Norfolk Southern Co. (NYSE:NSC)

California State Teachers Retirement System decreased its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 335,552 shares of the railroad operator's stock after selling 15,231 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Norfolk Southern worth $78,754,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NSC. Principal Financial Group Inc. grew its position in Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock worth $63,417,000 after purchasing an additional 8,844 shares during the last quarter. Geode Capital Management LLC grew its position in Norfolk Southern by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock worth $1,098,472,000 after buying an additional 113,648 shares in the last quarter. Caprock Group LLC bought a new position in Norfolk Southern during the fourth quarter valued at about $1,796,000. Grandview Asset Management LLC acquired a new position in Norfolk Southern in the 4th quarter valued at approximately $918,000. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in shares of Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock worth $1,333,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Up 1.1 %

Shares of Norfolk Southern stock traded up $2.51 on Friday, hitting $224.28. The company had a trading volume of 1,051,035 shares, compared to its average volume of 1,237,820. The stock has a 50-day moving average of $228.38 and a 200-day moving average of $244.22. The firm has a market capitalization of $50.56 billion, a P/E ratio of 19.40, a P/E/G ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results 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 the consensus estimate of $3.01 billion. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The business's revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.49 EPS. Research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.41%. Norfolk Southern's payout ratio is 36.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They set a "buy" rating and a $293.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Evercore ISI cut their price objective on Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Robert W. Baird lifted their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus decreased their target price on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $266.10.

Norfolk Southern Company 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.