Camden National Bank Boosts Position in Norfolk Southern Co. (NYSE:NSC)

Camden National Bank increased its stake in Norfolk Southern Co. (NYSE:NSC) by 18.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,338 shares of the railroad operator’s stock after acquiring an additional 208 shares during the quarter. Camden National Bank’s holdings in Norfolk Southern were worth $314,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its position in Norfolk Southern by 79.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 22,398 shares of the railroad operator’s stock valued at $5,566,000 after purchasing an additional 9,891 shares during the period. Principal Financial Group Inc. increased its position in Norfolk Southern by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after purchasing an additional 8,844 shares during the period. Hudson Value Partners LLC purchased a new position in Norfolk Southern during the 3rd quarter valued at about $211,000. Capital Performance Advisors LLP purchased a new position in Norfolk Southern during the 3rd quarter valued at about $33,000. Finally, Burt Wealth Advisors purchased a new position in Norfolk Southern during the 3rd quarter valued at about $227,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 2.4 %

NSC stock opened at $243.89 on Friday. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week 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 market capitalization of $55.22 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The firm has a 50 day moving average of $246.51 and a 200 day moving average of $250.78.

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

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Analysts Set New Price Targets

NSC has been the topic of a number of research reports. Stephens raised their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Robert W. Baird raised their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Wells Fargo & Company lowered their price target on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada raised their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Barclays raised their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $276.95.

Insiders Place Their Bets

In other news, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the acquisition, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

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.