Reaves W H & Co. Inc. Acquires 41,700 Shares of Norfolk Southern Co. (NYSE:NSC)

Reaves W H & Co. Inc. grew its holdings in Norfolk Southern Co. (NYSE:NSC) by 23.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 219,300 shares of the railroad operator’s stock after purchasing an additional 41,700 shares during the quarter. Reaves W H & Co. Inc. owned approximately 0.10% of Norfolk Southern worth $51,470,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NSC. Financial Life Planners bought a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Keystone Financial Group Inc. bought a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust bought a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Morse Asset Management Inc acquired a new stake in shares of Norfolk Southern in the 3rd quarter valued at approximately $30,000. Finally, Coastline Trust Co bought a new position in Norfolk Southern during the 3rd quarter worth approximately $32,000. Institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In related news, Director Sameh Fahmy acquired 350 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the acquisition, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gilbert H. Lamphere acquired 607 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was bought 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 owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on NSC shares. JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Citigroup lifted their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Susquehanna reduced their price objective 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. 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. Finally, Wells Fargo & Company reduced their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.11.

Norfolk Southern Price Performance

Shares of NSC opened at $244.90 on Tuesday. The company has a market cap of $55.45 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company’s fifty day simple moving average is $246.25 and its 200 day simple moving average is $250.94. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last issued its earnings results 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%. On average, research analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.20%. Norfolk Southern’s payout ratio is 46.71%.

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.