Prudential Financial Inc. Has $65.71 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Prudential Financial Inc. grew its position in Norfolk Southern Co. (NYSE:NSC) by 89.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 279,990 shares of the railroad operator’s stock after purchasing an additional 132,328 shares during the period. Prudential Financial Inc.’s holdings in Norfolk Southern were worth $65,714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. FMR LLC grew its holdings in Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after buying an additional 881,415 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Norfolk Southern in the third quarter valued at about $207,830,000. Boston Partners grew its stake in shares of 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 acquiring an additional 580,293 shares in the last quarter. Holocene Advisors LP bought a new position in Norfolk Southern during the third quarter worth about $122,798,000. Finally, Amundi raised its stake in Norfolk Southern by 56.4% in the 4th quarter. Amundi now owns 1,302,635 shares of the railroad operator’s stock worth $308,607,000 after purchasing an additional 469,558 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $236.11 on Tuesday. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The company has a market cap of $53.46 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.31 and a beta of 1.35. The firm has a 50 day simple moving average of $246.01 and a 200 day simple moving average of $249.63.

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 analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction on 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 acquisition, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. The trade was a 32.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NSC shares. Robert W. Baird raised their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a research note on Friday, March 7th. They set a “buy” rating and a $293.00 price objective on the stock. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and cut their target price for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. 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. Finally, Susquehanna cut their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $276.63.

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.