United Bank Increases Position in Norfolk Southern Co. (NYSE:NSC)

United Bank lifted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 13.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,039 shares of the railroad operator’s stock after purchasing an additional 1,164 shares during the period. United Bank’s holdings in Norfolk Southern were worth $2,356,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new stake in shares of Norfolk Southern during the 4th quarter worth about $27,000. Keystone Financial Group Inc. acquired a new stake in Norfolk Southern during the fourth quarter worth approximately $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $27,000. Vision Financial Markets LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $28,000. Finally, Atlantic Private Wealth LLC purchased a new position in shares of Norfolk Southern in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Activity

In other news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of research reports. Stephens boosted their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a research report on Friday, March 7th. They set a “buy” rating and a $293.00 target price on the stock. Wells Fargo & Company decreased their target price on Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Robert W. Baird boosted their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $274.84.

Norfolk Southern Stock Down 2.0 %

Shares of NYSE:NSC opened at $230.41 on Friday. The company has a market cap of $52.17 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The firm’s 50-day simple moving average is $245.28 and its 200-day simple moving average is $249.08. The company has a quick ratio of 0.82, a current ratio of 0.90 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. As a group, equities research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.34%. Norfolk Southern’s payout ratio is currently 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.