Mizuho Bank Ltd. Takes Position in Norfolk Southern Co. (NYSE:NSC)

Mizuho Bank Ltd. bought a new position in Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, Holdings Channel.com reports. The fund bought 290 shares of the railroad operator’s stock, valued at approximately $68,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Life Planners purchased a new position in Norfolk Southern during the 4th quarter valued at 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 $27,000. Vision Financial Markets LLC bought a new position in Norfolk Southern during the fourth quarter valued at $28,000. Finally, Atlantic Private Wealth LLC purchased a new position in shares of Norfolk Southern in the 4th quarter worth $29,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 4.5 %

Shares of Norfolk Southern stock opened at $210.78 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The stock has a market cap of $47.73 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.31 and a beta of 1.35. The firm’s 50-day moving average is $242.94 and its two-hundred day moving average is $248.34. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, research analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Insider Buying and Selling

In other news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Bank of America lowered their price objective on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Benchmark reiterated a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Barclays decreased their price target on Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $272.74.

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.