Wedmont Private Capital grew its stake in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,597 shares of the railroad operator’s stock after purchasing an additional 243 shares during the period. Wedmont Private Capital’s holdings in Norfolk Southern were worth $842,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of NSC. State Street Corp grew its holdings in shares of Norfolk Southern by 2.1% during the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock worth $2,318,716,000 after acquiring an additional 196,249 shares during the period. Geode Capital Management LLC lifted its position in Norfolk Southern by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock valued at $1,133,828,000 after buying an additional 62,186 shares during the period. EdgePoint Investment Group Inc. lifted its position in Norfolk Southern by 2.7% during the third quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock valued at $967,340,000 after buying an additional 103,281 shares during the period. Mizuho Securities USA LLC grew its position in shares of Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after buying an additional 3,280,579 shares during the period. Finally, FMR LLC increased its stake in shares of Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after acquiring an additional 881,415 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.
Norfolk Southern Trading Up 0.6 %
Shares of NYSE:NSC opened at $238.80 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The firm has a market capitalization of $54.03 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.34 and a beta of 1.34. The business’s 50-day moving average is $252.80 and its 200 day moving average is $246.23. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.
Norfolk Southern Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.
Insider Buying and Selling
In related news, Director Sameh Fahmy acquired 350 shares of Norfolk Southern stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Loop Capital upped their price objective on shares of Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Benchmark lifted their price objective on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company decreased their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Barclays increased their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $275.68.
Get Our Latest Stock Analysis on Norfolk Southern
Norfolk Southern 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.
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