Dynamic Technology Lab Private Ltd Purchases Shares of 8,356 Norfolk Southern Co. (NYSE:NSC)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Norfolk Southern Co. (NYSE:NSC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,356 shares of the railroad operator’s stock, valued at approximately $1,961,000.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in shares of Norfolk Southern in the fourth quarter worth approximately $547,575,000. Boston Partners grew its position in Norfolk Southern by 16.9% during the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock worth $945,385,000 after purchasing an additional 580,293 shares in the last quarter. Amundi raised its stake in Norfolk Southern by 56.4% during the 4th quarter. Amundi now owns 1,302,635 shares of the railroad operator’s stock valued at $308,607,000 after purchasing an additional 469,558 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at $105,225,000. Finally, Cbre Investment Management Listed Real Assets LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter worth $75,621,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NSC shares. Royal Bank of Canada increased their price objective on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Loop Capital cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price target for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Benchmark reaffirmed a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday, January 30th. Robert W. Baird lifted their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $272.74.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Norfolk Southern Stock Down 4.5 %

Shares of Norfolk Southern stock opened at $210.78 on Friday. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The stock has a 50 day moving average price of $242.94 and a two-hundred day moving average price of $248.34. The stock has a market capitalization of $47.73 billion, a P/E ratio of 18.23, a PEG ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Equities analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.56%. Norfolk Southern’s dividend payout ratio is presently 46.71%.

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.