ING Groep NV Boosts Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

ING Groep NV boosted its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 424.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,959 shares of the railroad operator's stock after acquiring an additional 153,754 shares during the quarter. ING Groep NV owned 0.08% of Norfolk Southern worth $44,903,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its stake in Norfolk Southern by 662.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator's stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Norfolk Southern during the 4th quarter worth about $32,000. Provence Wealth Management Group acquired a new stake in Norfolk Southern in the 3rd quarter valued at about $28,000. Creative Financial Designs Inc. ADV increased its position in Norfolk Southern by 317.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator's stock valued at $35,000 after acquiring an additional 111 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new position in shares of Norfolk Southern in the fourth quarter worth about $34,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Down 0.5 %

Shares of NYSE:NSC traded down $1.08 during trading on Friday, hitting $231.47. 1,310,831 shares of the company's stock traded hands, compared to its average volume of 1,792,796. The company has a 50-day moving average price of $244.71 and a 200-day moving average price of $236.72. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The company has a market cap of $52.29 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 3.23 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing analysts' consensus estimates of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the firm posted $3.32 EPS. The business's quarterly revenue was down 4.1% compared to the same quarter last year. As a group, research analysts forecast that Norfolk Southern Co. will post 11.66 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern's dividend payout ratio is 86.96%.

Insider Activity

In related news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NSC. Jefferies Financial Group started coverage on shares of Norfolk Southern in a report on Monday, April 8th. They issued a "buy" rating and a $300.00 price target for the company. Morgan Stanley lowered Norfolk Southern from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $185.00 to $175.00 in a research note on Monday, January 29th. UBS Group decreased their price target on Norfolk Southern from $302.00 to $294.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Citigroup boosted their price objective on Norfolk Southern from $253.00 to $286.00 and gave the stock a "buy" rating in a report on Thursday, February 8th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $270.00 target price on shares of Norfolk Southern in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Norfolk Southern currently has an average rating of "Moderate Buy" and an average target price of $261.78.

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.