Paradigm Asset Management Co. LLC Raises Position in Norfolk Southern Co. (NYSE:NSC)

Paradigm Asset Management Co. LLC raised its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 600.0% during the fourth quarter, HoldingsChannel reports. The firm owned 5,600 shares of the railroad operator’s stock after buying an additional 4,800 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Norfolk Southern were worth $1,314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC grew its stake in Norfolk Southern by 10.7% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 1,065 shares of the railroad operator’s stock worth $250,000 after purchasing an additional 103 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Norfolk Southern in the fourth quarter worth approximately $510,000. Wolverine Asset Management LLC grew its stake in Norfolk Southern by 25.0% in the fourth quarter. Wolverine Asset Management LLC now owns 2,500 shares of the railroad operator’s stock worth $587,000 after purchasing an additional 500 shares in the last quarter. ING Groep NV grew its stake in Norfolk Southern by 374.6% in the fourth quarter. ING Groep NV now owns 84,196 shares of the railroad operator’s stock worth $19,761,000 after purchasing an additional 66,454 shares in the last quarter. Finally, Boston Financial Mangement LLC grew its stake in Norfolk Southern by 12.4% in the fourth quarter. Boston Financial Mangement LLC now owns 3,624 shares of the railroad operator’s stock worth $851,000 after purchasing an additional 400 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.1 %

NSC stock opened at $249.40 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The stock has a market cap of $56.47 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.30 and a beta of 1.35. The business’s 50-day moving average is $245.43 and its 200 day moving average is $250.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 13.02 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced 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 2.17%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NSC. Susquehanna dropped their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada increased their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Benchmark reaffirmed a “buy” rating and set a $285.00 target price on shares of Norfolk Southern in a research report on Thursday, January 30th. Robert W. Baird increased their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Citigroup increased their price objective on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.11.

Insider Activity

In other news, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction on Friday, January 31st. The stock was acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now owns 2,487 shares of the company’s stock, 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. Corporate insiders own 0.19% of the company’s stock.

About Norfolk Southern

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.