Calamos Advisors LLC Acquires 65,487 Shares of Norfolk Southern Co. (NYSE:NSC)

Calamos Advisors LLC raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 166.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 104,818 shares of the railroad operator’s stock after buying an additional 65,487 shares during the quarter. Calamos Advisors LLC’s holdings in Norfolk Southern were worth $24,601,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Czech National Bank lifted its position in shares of Norfolk Southern by 7.0% in the 3rd quarter. Czech National Bank now owns 46,058 shares of the railroad operator’s stock worth $11,445,000 after purchasing an additional 3,008 shares during the period. GAMMA Investing LLC boosted its position in Norfolk Southern by 22.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,708 shares of the railroad operator’s stock valued at $921,000 after acquiring an additional 692 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of Norfolk Southern by 8.7% in the 3rd quarter. Miracle Mile Advisors LLC now owns 1,416 shares of the railroad operator’s stock valued at $352,000 after purchasing an additional 113 shares during the period. Fulton Bank N.A. boosted its position in shares of Norfolk Southern by 2.1% during the third quarter. Fulton Bank N.A. now owns 8,181 shares of the railroad operator’s stock valued at $2,033,000 after purchasing an additional 169 shares in the last quarter. Finally, Salvus Wealth Management LLC raised its holdings in Norfolk Southern by 3.3% in the third quarter. Salvus Wealth Management LLC now owns 4,702 shares of the railroad operator’s stock worth $1,168,000 after purchasing an additional 151 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Down 2.0 %

Shares of NYSE:NSC opened at $250.13 on Tuesday. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The business has a fifty day moving average of $248.95 and a two-hundred day moving average of $249.15. The stock has a market cap of $56.59 billion, a P/E ratio of 21.64, a PEG ratio of 2.35 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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, research analysts expect that Norfolk Southern Co. will post 13.07 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.16%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy acquired 350 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now owns 10,350 shares in the company, valued at $2,580,979.50. The trade was a 3.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gilbert H. Lamphere acquired 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NSC shares. Jefferies Financial Group raised their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Bank of America boosted their price objective on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. TD Cowen boosted their target price on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” 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 given a buy rating to the stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and an average target price of $276.11.

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.