OFI Invest Asset Management Makes New $465,000 Investment in Norfolk Southern Co. (NYSE:NSC)

OFI Invest Asset Management purchased a new position in shares of Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,052 shares of the railroad operator’s stock, valued at approximately $465,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Amundi grew its position in Norfolk Southern by 56.4% during the 4th quarter. Amundi now owns 1,302,635 shares of the railroad operator’s stock worth $308,607,000 after purchasing an additional 469,558 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in shares of Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator’s stock valued at $1,333,000 after acquiring an additional 128 shares during the period. Camden National Bank grew its position in shares of Norfolk Southern by 18.4% during the 4th quarter. Camden National Bank now owns 1,338 shares of the railroad operator’s stock valued at $314,000 after acquiring an additional 208 shares during the period. Oak Hill Wealth Advisors LLC grew its position in shares of Norfolk Southern by 220.1% during the 4th quarter. Oak Hill Wealth Advisors LLC now owns 4,761 shares of the railroad operator’s stock valued at $1,117,000 after acquiring an additional 8,725 shares during the period. Finally, EFG Asset Management Americas Corp. grew its position in shares of Norfolk Southern by 2.4% during the 4th quarter. EFG Asset Management Americas Corp. now owns 7,798 shares of the railroad operator’s stock valued at $1,830,000 after acquiring an additional 183 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Norfolk Southern

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

Norfolk Southern Trading Up 2.4 %

NSC opened at $243.89 on Monday. 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 company’s 50 day simple moving average is $246.51 and its two-hundred day simple moving average is $250.92. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The firm has a market capitalization of $55.22 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping 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%. Analysts expect that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.21%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Analysts Set New Price Targets

NSC has been the topic of a number of analyst reports. Susquehanna dropped their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada raised their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Robert W. Baird raised their target price on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Benchmark restated a “buy” rating and set a $285.00 target price on shares of Norfolk Southern in a research report on Thursday, January 30th. Finally, Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price target for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus target price of $276.95.

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.