Principal Financial Group Inc. Grows Stock Position in Norfolk Southern Corporation $NSC

Principal Financial Group Inc. lifted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 0.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 250,186 shares of the railroad operator’s stock after acquiring an additional 2,049 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Norfolk Southern worth $75,158,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Norfolk Southern by 1.2% during the second quarter. Vanguard Group Inc. now owns 20,561,273 shares of the railroad operator’s stock valued at $5,263,069,000 after acquiring an additional 239,914 shares in the last quarter. Dodge & Cox increased its holdings 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 purchasing an additional 192,567 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Norfolk Southern by 0.8% in 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 purchasing an additional 36,362 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in 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 grew its position in Norfolk Southern by 6.5% during the second quarter. Lazard Asset Management LLC now owns 3,289,431 shares of the railroad operator’s stock valued at $841,994,000 after buying an additional 201,861 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $298.37 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The firm has a market capitalization of $66.95 billion, a PE ratio of 23.40, a P/E/G ratio of 5.18 and a beta of 1.34. The business’s 50 day moving average price is $290.74 and its 200-day moving average price is $286.33.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, beating the consensus estimate of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the company earned $3.04 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern’s payout ratio is presently 42.35%.

Insider Activity

In other Norfolk Southern news, Director William Jr. Clyburn acquired 204 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was bought at an average price of $294.79 per share, with a total value of $60,137.16. Following the purchase, the director owned 405 shares in the company, valued at approximately $119,389.95. The trade was a 101.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anil Bhatt sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total transaction of $253,440.00. Following the completion of the transaction, the executive vice president directly owned 1,413 shares in the company, valued at $397,900.80. This trade represents a 38.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NSC shares. Barclays decreased their price objective on shares of Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft cut Norfolk Southern from a “buy” rating to a “hold” rating and reduced their price target for the stock from $354.00 to $297.00 in a report on Thursday, December 11th. Robert W. Baird dropped their price objective on Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Citigroup cut their price objective on Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Finally, Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Hold” and an average target price of $303.32.

Norfolk Southern 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.