Pinnacle Financial Partners Inc Purchases 69 Shares of Norfolk Southern Co. (NYSE:NSC)

Pinnacle Financial Partners Inc grew its position in Norfolk Southern Co. (NYSE:NSC) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 3,773 shares of the railroad operator’s stock after acquiring an additional 69 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Norfolk Southern were worth $886,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Redmond Asset Management LLC increased its holdings in Norfolk Southern by 1,655.2% in the fourth quarter. Redmond Asset Management LLC now owns 27,399 shares of the railroad operator’s stock valued at $6,431,000 after purchasing an additional 25,838 shares during the period. Bradley Foster & Sargent Inc. CT grew its position in shares of Norfolk Southern by 0.3% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 19,942 shares of the railroad operator’s stock valued at $4,680,000 after buying an additional 67 shares during the last quarter. Paradigm Asset Management Co. LLC grew its position in shares of Norfolk Southern by 600.0% in the 4th quarter. Paradigm Asset Management Co. LLC now owns 5,600 shares of the railroad operator’s stock valued at $1,314,000 after buying an additional 4,800 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its position in shares of Norfolk Southern by 10.7% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 1,065 shares of the railroad operator’s stock valued at $250,000 after buying an additional 103 shares during the last quarter. Finally, Centricity Wealth Management LLC bought a new stake in shares of Norfolk Southern in the 4th quarter valued at about $510,000. 75.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Sameh Fahmy bought 350 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price 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 of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction dated 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 acquisition, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Down 0.6 %

Shares of NYSE:NSC opened at $247.84 on Monday. The business’s 50 day simple moving average is $245.46 and its two-hundred day simple moving average is $250.78. The firm has a market cap of $56.12 billion, a P/E ratio of 21.44, a PEG ratio of 2.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts forecast that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.18%. Norfolk Southern’s payout ratio is currently 46.71%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays upped their price target on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Citigroup upped their price target on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Susquehanna reduced their price target 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. Wells Fargo & Company reduced their price target on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Stephens upped their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. 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, Norfolk Southern currently has a consensus rating of “Moderate Buy” and an average target price of $276.11.

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.