Ingalls & Snyder LLC Boosts Stock Position in Norfolk Southern Co. (NYSE:NSC)

Ingalls & Snyder LLC grew its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 2.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 51,647 shares of the railroad operator’s stock after buying an additional 1,148 shares during the period. Ingalls & Snyder LLC’s holdings in Norfolk Southern were worth $12,122,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Kentucky Trust Co purchased a new position in shares of Norfolk Southern during the 4th quarter valued at about $2,309,000. Leavell Investment Management Inc. raised its stake in Norfolk Southern by 0.9% during the 4th quarter. Leavell Investment Management Inc. now owns 5,816 shares of the railroad operator’s stock valued at $1,365,000 after purchasing an additional 50 shares during the period. Stonebridge Financial Group LLC bought a new stake in Norfolk Southern during the 4th quarter valued at approximately $86,000. Essex Financial Services Inc. raised its stake in Norfolk Southern by 10.1% during the 4th quarter. Essex Financial Services Inc. now owns 4,660 shares of the railroad operator’s stock valued at $1,094,000 after purchasing an additional 426 shares during the period. Finally, Sapient Capital LLC raised its stake in Norfolk Southern by 2.5% during the 4th quarter. Sapient Capital LLC now owns 3,189 shares of the railroad operator’s stock valued at $748,000 after purchasing an additional 77 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, the director now directly owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sameh Fahmy acquired 350 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the acquisition, the director now 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 disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

NYSE NSC opened at $253.80 on Thursday. The company has a market cap of $57.42 billion, a P/E ratio of 21.96, a P/E/G ratio of 2.32 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The business’s 50 day moving average price is $245.86 and its 200-day moving average price is $250.31. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating 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%. Sell-side analysts predict that Norfolk Southern Co. will post 13.02 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NSC shares. Bank of America lifted their target price on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Benchmark reissued a “buy” rating and set a $285.00 target price on shares of Norfolk Southern in a research note on Thursday, January 30th. Susquehanna decreased their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their target price on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, TD Cowen lifted their target price on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.11.

Norfolk Southern Company 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.