Raymond James Financial Inc. Takes Position in Norfolk Southern Co. (NYSE:NSC)

Raymond James Financial Inc. bought a new stake in Norfolk Southern Co. (NYSE:NSC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 448,336 shares of the railroad operator’s stock, valued at approximately $105,225,000. Raymond James Financial Inc. owned about 0.20% of Norfolk Southern at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NSC. Financial Life Planners bought a new position in Norfolk Southern during the 4th quarter valued at approximately $27,000. Keystone Financial Group Inc. bought a new position in Norfolk Southern during the 4th quarter valued at approximately $27,000. Bank of Jackson Hole Trust bought a new position in Norfolk Southern during the 4th quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new position in Norfolk Southern during the 4th quarter valued at approximately $28,000. Finally, Morse Asset Management Inc bought a new position in Norfolk Southern during the 3rd quarter valued at approximately $30,000. Institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on NSC shares. Royal Bank of Canada upped their price target on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Citigroup upped their price target on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and reduced their target price for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Susquehanna reduced their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird upped their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. One equities research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $276.95.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $243.89 on Friday. 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 company has a market capitalization of $55.22 billion, a P/E ratio of 21.10, a PEG ratio of 2.31 and a beta of 1.35. The stock’s 50 day moving average is $246.51 and its 200 day moving average is $250.85. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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, equities research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid 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 yield of 2.21%. Norfolk Southern’s dividend payout ratio is 46.71%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

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.