W.G. Shaheen & Associates DBA Whitney & Co Increases Stock Position in Norfolk Southern Co. (NYSE:NSC)

W.G. Shaheen & Associates DBA Whitney & Co grew its position in shares of Norfolk Southern Co. (NYSE:NSC) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,648 shares of the railroad operator’s stock after purchasing an additional 236 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Norfolk Southern were worth $8,367,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NSC. Highline Wealth Partners LLC bought a new stake in Norfolk Southern in the 3rd quarter worth approximately $25,000. Financial Life Planners bought a new stake in Norfolk Southern in the fourth quarter worth $27,000. Keystone Financial Group Inc. purchased a new stake in Norfolk Southern during the fourth quarter valued at $27,000. Bank of Jackson Hole Trust bought a new position in Norfolk Southern during the fourth quarter valued at $27,000. Finally, Morse Asset Management Inc purchased a new position in shares of Norfolk Southern in the 3rd quarter worth $30,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NSC. JPMorgan Chase & Co. upped their target price 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. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price objective for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Susquehanna cut 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. Stephens increased their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Barclays lifted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.11.

Insiders Place Their Bets

In other news, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now owns 10,350 shares in the company, valued at $2,580,979.50. This represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now directly owns 2,487 shares in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Norfolk Southern Trading Down 0.6 %

Shares of NYSE NSC opened at $247.84 on Monday. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month 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 simple moving average of $245.46 and a two-hundred day simple moving average of $250.78. The firm has a market cap of $56.12 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.71%.

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.