Price T Rowe Associates Inc. MD Increases Stake in Norfolk Southern Co. (NYSE:NSC)

Price T Rowe Associates Inc. MD boosted its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 11.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,608,080 shares of the railroad operator's stock after buying an additional 918,559 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 3.80% of Norfolk Southern worth $2,020,318,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Financial Life Planners purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. purchased a new stake in shares of Norfolk Southern in the 4th quarter worth $27,000. Bank of Jackson Hole Trust bought a new position in shares of Norfolk Southern during the 4th quarter worth $27,000. Vision Financial Markets LLC purchased a new position in shares of Norfolk Southern during the fourth quarter valued at $28,000. Finally, Atlantic Private Wealth LLC bought a new stake in shares of Norfolk Southern in the fourth quarter valued at about $29,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere bought 607 shares of the company's stock in a transaction dated Friday, January 31st. The shares were acquired at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by company insiders.

Norfolk Southern Stock Performance

Norfolk Southern stock traded down $0.75 during midday trading on Monday, hitting $220.96. 294,273 shares of the company were exchanged, compared to its average volume of 1,310,667. Norfolk Southern Co. has a fifty-two week low of $201.63 and a fifty-two week high of $277.60. The firm has a market capitalization of $54.48 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. The business has a fifty day simple moving average of $230.35 and a two-hundred day simple moving average of $244.92. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90.

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

Norfolk Southern Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.44%. Norfolk Southern's dividend payout ratio is presently 36.89%.

Analysts Set New Price Targets

Several research analysts have issued reports on NSC shares. UBS Group dropped their target price on shares of Norfolk Southern from $284.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday. Wells Fargo & Company cut their price objective on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Susquehanna lowered their target price on Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $255.00 price objective on shares of Norfolk Southern in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $266.10.

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.