Norfolk Southern Co. (NYSE:NSC) Shares Purchased by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co increased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 30.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,500 shares of the railroad operator’s stock after purchasing an additional 8,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Norfolk Southern were worth $8,567,000 at the end of the most recent quarter.

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

Norfolk Southern Trading Down 4.5 %

NYSE:NSC opened at $210.78 on Friday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The stock has a market cap of $51.97 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a 50-day simple moving average of $242.94 and a 200-day simple moving average of $248.36.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating 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%. As a group, analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.56%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Analyst Ratings Changes

NSC has been the subject of several research analyst reports. Barclays lowered their target price on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price for the company. Stephens raised their price target on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Royal Bank of Canada boosted their price objective on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company lowered their target price on Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus target price of $272.74.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.