Modern Wealth Management LLC Increases Stake in Norfolk Southern Co. (NYSE:NSC)

Modern Wealth Management LLC grew its position in shares of Norfolk Southern Co. (NYSE:NSC) by 12.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,086 shares of the railroad operator’s stock after acquiring an additional 116 shares during the period. Modern Wealth Management LLC’s holdings in Norfolk Southern were worth $275,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NSC. Financial Life Planners purchased a new stake in shares of Norfolk Southern in the 4th quarter worth about $27,000. Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $27,000. Bank of Jackson Hole Trust bought a new stake in shares of Norfolk Southern in the 4th quarter worth $27,000. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern during the third quarter valued at $30,000. Finally, Vision Financial Markets LLC purchased a new position in Norfolk Southern in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere purchased 607 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $230.41 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The firm has a fifty day moving average price of $245.28 and a 200-day moving average price of $249.14. The stock has a market cap of $52.17 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued 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 return on equity of 20.04% and a net margin of 21.63%. Equities analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.34%. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Wall Street Analysts Forecast Growth

NSC has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Wells Fargo & Company dropped their price target on Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday. Royal Bank of Canada upped their price objective on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price on the stock. Finally, Stephens upped their price target 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.84.

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.