Fisher Funds Management LTD Takes Position in Norfolk Southern Co. (NYSE:NSC)

Fisher Funds Management LTD acquired a new position in Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 9,872 shares of the railroad operator’s stock, valued at approximately $2,320,000.

A number of other large investors have also recently added to or reduced their stakes in NSC. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern in the third quarter valued at about $25,000. Financial Life Planners purchased a new position in shares of Norfolk Southern during the 4th quarter worth approximately $27,000. Keystone Financial Group Inc. acquired a new position in shares of Norfolk Southern during the 4th quarter worth approximately $27,000. Bank of Jackson Hole Trust purchased a new stake in Norfolk Southern in the 4th quarter valued at approximately $27,000. Finally, Morse Asset Management Inc acquired a new stake in Norfolk Southern during the 3rd quarter valued at $30,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $247.84 on Monday. The stock has a market capitalization of $56.12 billion, a P/E ratio of 21.44, a PEG ratio of 2.31 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The business’s fifty day moving average price is $245.46 and its 200 day moving average price is $250.78. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60.

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 analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. As a group, research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed 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 2.18%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s payout ratio is currently 46.71%.

Insider Activity

In related news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sameh Fahmy bought 350 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NSC. JPMorgan Chase & Co. boosted their price target on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Barclays boosted their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Stephens raised their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Susquehanna cut their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada raised their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $276.11.

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.