Canada Pension Plan Investment Board Grows Position in Norfolk Southern Co. (NYSE:NSC)

Canada Pension Plan Investment Board raised its stake in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 11.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,985 shares of the railroad operator’s stock after acquiring an additional 15,600 shares during the period. Canada Pension Plan Investment Board owned approximately 0.07% of Norfolk Southern worth $30,324,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Norfolk Southern by 3.0% in the second quarter. BlackRock Inc. now owns 15,860,404 shares of the railroad operator’s stock valued at $3,596,505,000 after buying an additional 465,902 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Norfolk Southern by 2.1% during the second quarter. Geode Capital Management LLC now owns 4,199,696 shares of the railroad operator’s stock worth $949,455,000 after purchasing an additional 86,988 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Norfolk Southern by 95,518.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,028,232 shares of the railroad operator’s stock valued at $746,217,000 after purchasing an additional 3,025,065 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Norfolk Southern by 86.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,724,821 shares of the railroad operator’s stock valued at $671,451,000 after purchasing an additional 1,265,666 shares during the period. Finally, Morgan Stanley lifted its stake in Norfolk Southern by 33.5% in the fourth quarter. Morgan Stanley now owns 2,546,214 shares of the railroad operator’s stock valued at $627,438,000 after buying an additional 638,384 shares during the last quarter. Institutional investors and hedge funds own 72.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Norfolk Southern from $245.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, October 26th. Citigroup upped their price objective on Norfolk Southern from $253.00 to $286.00 and gave the company a “buy” rating in a research note on Thursday. TheStreet upgraded Norfolk Southern from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Barclays cut their price target on Norfolk Southern from $240.00 to $235.00 and set an “equal weight” rating for the company in a research note on Monday, January 29th. Finally, Morgan Stanley lowered shares of Norfolk Southern from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $185.00 to $175.00 in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and a consensus target price of $238.94.

Check Out Our Latest Report on NSC

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $254.83 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $256.36. The stock has a 50 day moving average of $234.74 and a 200-day moving average of $215.97. The stock has a market cap of $57.56 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 4.43 and a beta of 1.30.

Norfolk Southern (NYSE:NSCGet Free Report) last issued its quarterly earnings data on Friday, January 26th. The railroad operator reported $2.83 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. Norfolk Southern’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.42 earnings per share. On average, analysts expect that Norfolk Southern Co. will post 12.25 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Friday, February 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, February 1st. Norfolk Southern’s dividend payout ratio is currently 67.33%.

Norfolk Southern Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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