Bank of Montreal Can Purchases 2,374 Shares of Norfolk Southern Co. (NYSE:NSC)

Bank of Montreal Can grew its position in shares of Norfolk Southern Co. (NYSE:NSC) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 265,880 shares of the railroad operator’s stock after acquiring an additional 2,374 shares during the period. Bank of Montreal Can’s holdings in Norfolk Southern were worth $62,402,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NSC. Norges Bank bought a new position in Norfolk Southern during the fourth quarter valued at approximately $547,575,000. Boston Partners boosted its stake in shares of Norfolk Southern by 16.9% in the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock valued at $945,385,000 after purchasing an additional 580,293 shares in the last quarter. Amundi grew its holdings in shares of Norfolk Southern by 56.4% during the 4th quarter. Amundi now owns 1,302,635 shares of the railroad operator’s stock valued at $308,607,000 after purchasing an additional 469,558 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Norfolk Southern in the 4th quarter worth $105,225,000. Finally, FMR LLC lifted its stake in Norfolk Southern by 13.8% in the fourth quarter. FMR LLC now owns 3,073,933 shares of the railroad operator’s stock worth $721,452,000 after purchasing an additional 371,589 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on NSC shares. Barclays decreased their price objective on Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. UBS Group lowered their price objective on Norfolk Southern from $305.00 to $284.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company cut their target price 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 price target on shares of Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Finally, Royal Bank of Canada raised their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and an average target price of $268.68.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $222.09 on Thursday. The company has a market capitalization of $54.76 billion, a PE ratio of 19.21, a PEG ratio of 2.31 and a beta of 1.30. The business has a fifty day moving average price of $238.59 and a 200-day moving average price of $247.11. Norfolk Southern Co. has a 1-year low of $201.63 and a 1-year high of $277.60. 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 (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts expect that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

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.