IFP Advisors Inc Increases Position in Norfolk Southern Co. (NYSE:NSC)

IFP Advisors Inc lifted its holdings in Norfolk Southern Co. (NYSE:NSC) by 521.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,101 shares of the railroad operator’s stock after purchasing an additional 10,153 shares during the period. IFP Advisors Inc’s holdings in Norfolk Southern were worth $2,840,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new position in Norfolk Southern in the 3rd quarter valued at $25,000. Financial Life Planners purchased a new stake in shares of Norfolk Southern during the fourth quarter valued at $27,000. Keystone Financial Group Inc. bought a new position in shares of Norfolk Southern in the fourth quarter worth about $27,000. Bank of Jackson Hole Trust purchased a new position in Norfolk Southern in the 4th quarter worth about $27,000. Finally, Morse Asset Management Inc bought a new stake in Norfolk Southern during the 3rd quarter valued at about $30,000. 75.10% of the stock is owned by institutional investors.

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy purchased 350 shares of the business’s stock in a transaction on 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 purchase, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Down 1.6 %

NYSE NSC opened at $243.75 on Tuesday. The firm has a market cap of $55.19 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The company has a 50 day moving average price of $245.47 and a 200 day moving average price of $250.79.

Norfolk Southern (NYSE:NSC) last issued its quarterly 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, sell-side analysts forecast that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm 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. This represents a $5.40 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NSC shares. Stephens upped their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Wells Fargo & Company dropped their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their target price on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and cut their price target for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and an average price target of $276.11.

About Norfolk Southern

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.