Norfolk Southern Co. (NYSE:NSC) Shares Bought by First Hawaiian Bank

First Hawaiian Bank increased its stake in Norfolk Southern Co. (NYSE:NSC) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,409 shares of the railroad operator’s stock after purchasing an additional 440 shares during the period. First Hawaiian Bank’s holdings in Norfolk Southern were worth $5,025,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Norfolk Southern by 2.1% during the third quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock worth $2,318,716,000 after acquiring an additional 196,249 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Norfolk Southern by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock valued at $1,133,828,000 after purchasing an additional 62,186 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of Norfolk Southern by 2.7% during the third quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock valued at $967,340,000 after buying an additional 103,281 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Norfolk Southern by 17.3% during the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after buying an additional 496,088 shares during the period. Finally, Mizuho Securities USA LLC increased its position in Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after acquiring an additional 3,280,579 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sameh Fahmy bought 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Susquehanna lowered their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. TD Cowen upped their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Barclays raised their price objective 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. Finally, Citigroup upped their target price on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Stock Down 0.3 %

NSC traded down $0.82 on Wednesday, reaching $236.94. 791,284 shares of the company traded hands, compared to its average volume of 942,889. The company has a market cap of $53.61 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 2.34 and a beta of 1.34. 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 stock’s 50 day moving average price is $254.19 and its 200-day moving average price is $245.42. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the business posted $2.65 earnings per share. Norfolk Southern’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s payout ratio is presently 50.70%.

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.