AustralianSuper Pty Ltd Acquires Shares of 216,000 Norfolk Southern Corporation $NSC

AustralianSuper Pty Ltd bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 216,000 shares of the railroad operator’s stock, valued at approximately $64,889,000.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Norfolk Southern by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 20,561,273 shares of the railroad operator’s stock valued at $5,263,069,000 after purchasing an additional 239,914 shares in the last quarter. Dodge & Cox boosted its stake in shares of Norfolk Southern by 1.8% during the 2nd quarter. Dodge & Cox now owns 10,859,121 shares of the railroad operator’s stock valued at $2,779,609,000 after buying an additional 192,567 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Norfolk Southern by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,822,075 shares of the railroad operator’s stock valued at $1,228,064,000 after buying an additional 36,362 shares during the last quarter. EdgePoint Investment Group Inc. grew its position in shares of Norfolk Southern by 4.6% during the second quarter. EdgePoint Investment Group Inc. now owns 4,182,921 shares of the railroad operator’s stock worth $1,070,702,000 after buying an additional 184,586 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Norfolk Southern by 6.5% in the second quarter. Lazard Asset Management LLC now owns 3,289,431 shares of the railroad operator’s stock worth $841,994,000 after buying an additional 201,861 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $284.78 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78. The firm has a market capitalization of $63.90 billion, a PE ratio of 21.72, a P/E/G ratio of 5.06 and a beta of 1.33. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24. The business’s fifty day moving average price is $290.09 and its two-hundred day moving average price is $285.43.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be given a $1.35 dividend. The ex-dividend date is Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is currently 41.19%.

Analyst Ratings Changes

A number of research firms have commented on NSC. Robert W. Baird set a $293.00 price objective on shares of Norfolk Southern in a research note on Friday, December 5th. JPMorgan Chase & Co. cut their target price on shares of Norfolk Southern from $303.00 to $301.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. BMO Capital Markets lifted their price target on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Deutsche Bank Aktiengesellschaft lowered Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price objective for the company from $354.00 to $297.00 in a report on Thursday, December 11th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $325.00 target price on shares of Norfolk Southern in a report on Thursday, December 18th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $303.52.

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy bought 1,650 shares of Norfolk Southern stock in a transaction on Wednesday, November 5th. The stock was purchased at an average cost of $282.97 per share, with a total value of $466,900.50. Following the purchase, the director directly owned 12,000 shares of the company’s stock, valued at approximately $3,395,640. This trade represents a 15.94% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William Jr. Clyburn bought 204 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was purchased at an average price of $294.79 per share, with a total value of $60,137.16. Following the transaction, the director owned 405 shares in the company, valued at $119,389.95. The trade was a 101.49% increase in their position. The SEC filing for this purchase provides additional information. 0.06% of the stock is currently owned by insiders.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.