Ausbil Investment Management Ltd Invests $4.70 Million in Norfolk Southern Co. (NYSE:NSC)

Ausbil Investment Management Ltd bought a new stake in Norfolk Southern Co. (NYSE:NSC) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 19,939 shares of the railroad operator’s stock, valued at approximately $4,703,000. Norfolk Southern makes up approximately 2.8% of Ausbil Investment Management Ltd’s portfolio, making the stock its 15th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Austin Private Wealth LLC acquired a new position in Norfolk Southern in the 4th quarter valued at $220,000. Caprock Group LLC acquired a new position in Norfolk Southern in the 4th quarter valued at $1,796,000. Mine & Arao Wealth Creation & Management LLC. raised its holdings in Norfolk Southern by 7.0% in the 4th quarter. Mine & Arao Wealth Creation & Management LLC. now owns 2,420 shares of the railroad operator’s stock valued at $568,000 after acquiring an additional 158 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in Norfolk Southern by 165.3% in the 4th quarter. Mediolanum International Funds Ltd now owns 123,109 shares of the railroad operator’s stock valued at $28,674,000 after acquiring an additional 76,713 shares during the last quarter. Finally, Gilbert & Cook Inc. acquired a new position in Norfolk Southern in the 4th quarter valued at $536,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $255.44 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The firm has a 50-day moving average of $249.22 and a two-hundred day moving average of $248.75. The stock has a market cap of $57.79 billion, a P/E ratio of 22.10, a PEG ratio of 2.35 and a beta of 1.34. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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 20.50%. On average, research analysts expect that Norfolk Southern Co. will post 13.17 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.11%. Norfolk Southern’s payout ratio is 46.71%.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy purchased 350 shares of Norfolk Southern stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup boosted their price target on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. UBS Group upped their price objective on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group upped their price objective on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America upped their price objective on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI dropped their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.74.

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.