Shayne & Jacobs LLC increased its stake in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 1.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,327 shares of the railroad operator’s stock after buying an additional 50 shares during the quarter. Shayne & Jacobs LLC’s holdings in Norfolk Southern were worth $781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in shares of Norfolk Southern during the third quarter worth $25,000. Financial Life Planners acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $27,000. Keystone Financial Group Inc. purchased a new stake in Norfolk Southern during the fourth quarter worth $27,000. Bank of Jackson Hole Trust purchased a new position in Norfolk Southern in the fourth quarter valued at $27,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $30,000. 75.10% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sameh Fahmy purchased 350 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. The trade was a 3.50 % 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 Up 0.3 %
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, 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%. As a group, equities analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.
Norfolk Southern Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.20%. Norfolk Southern’s dividend payout ratio (DPR) is 46.71%.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Citigroup lifted their price target on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada upped their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and decreased their target price for the company from $289.00 to $256.00 in a report on Monday, February 3rd. Finally, Barclays lifted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $276.11.
Read Our Latest Analysis on NSC
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.
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