Franklin Resources Inc. Increases Position in Norfolk Southern Co. (NYSE:NSC)

Franklin Resources Inc. lifted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 138.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 515,302 shares of the railroad operator’s stock after acquiring an additional 299,096 shares during the period. Franklin Resources Inc. owned 0.23% of Norfolk Southern worth $120,941,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NSC. Financial Life Planners acquired a new position in Norfolk Southern in the fourth quarter valued at about $27,000. Keystone Financial Group Inc. acquired a new position in Norfolk Southern during the 4th quarter worth $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $27,000. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at approximately $30,000. Finally, Vision Financial Markets LLC acquired a new stake in Norfolk Southern in the fourth quarter valued at $28,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Norfolk Southern

In related news, Director Gilbert H. Lamphere acquired 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was acquired 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Stock Performance

NYSE:NSC opened at $238.95 on Thursday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. 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 firm has a market capitalization of $54.11 billion, a PE ratio of 20.67, a PEG ratio of 2.31 and a beta of 1.35. The firm’s fifty day simple moving average is $244.55 and its 200 day simple moving average is $248.79.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a $1.35 dividend. 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 2.26%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NSC shares. Stephens upped their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price objective on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Bank of America reduced their price target on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Wells Fargo & Company lowered their price objective on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, Barclays dropped their price target on Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday. 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. According to data from MarketBeat, the stock 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.