Skylands Capital LLC boosted its position in Norfolk Southern Co. (NYSE:NSC – Free Report) by 10.2% in the 4th quarter, HoldingsChannel reports. The firm owned 63,670 shares of the railroad operator’s stock after acquiring an additional 5,900 shares during the period. Norfolk Southern makes up about 2.1% of Skylands Capital LLC’s portfolio, making the stock its 12th largest position. Skylands Capital LLC’s holdings in Norfolk Southern were worth $14,943,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of NSC. Lake Street Advisors Group LLC increased its holdings in shares of Norfolk Southern by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after purchasing an additional 41 shares during the period. Raab & Moskowitz Asset Management LLC increased its holdings in shares of Norfolk Southern by 2.4% during the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after purchasing an additional 41 shares during the period. Archer Investment Corp increased its holdings in shares of Norfolk Southern by 2.3% during the third quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after purchasing an additional 43 shares during the period. Albert D Mason Inc. increased its holdings in shares of Norfolk Southern by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after purchasing an additional 46 shares during the period. Finally, Maia Wealth LLC increased its holdings in shares of Norfolk Southern by 4.7% during the third quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock worth $264,000 after purchasing an additional 47 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently commented on NSC shares. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Susquehanna decreased their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and cut their price target for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a 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 issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $276.11.
Norfolk Southern Stock Down 0.6 %
Norfolk Southern stock opened at $247.84 on Monday. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The firm has a market capitalization of $56.12 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 2.31 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The firm has a 50 day simple moving average of $245.46 and a 200 day simple moving average of $250.78.
Norfolk Southern (NYSE:NSC – Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating 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%. On average, analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.
Norfolk Southern Dividend Announcement
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. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. Norfolk Southern’s dividend payout ratio is 46.71%.
Insider Activity at Norfolk Southern
In other news, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sameh Fahmy purchased 350 shares of Norfolk Southern stock in a transaction dated Thursday, December 12th. The shares were purchased 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 approximately $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.
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.
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